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Daily Pivots: (S1) 0.6595; (P) 0.6608; (R1) 0.6631; More… No change in AUD/USD’s outlook and intraday bias stays neutral. On the upside, firm break of 0.6627 resistance will suggest that pullback from 0.6706 has completed as correction, after drawing support from 55 D EMA (now at 0.6557). That will keep the larger rally from 0.5913 […]
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Daily Pivots: (S1) 1.1668; (P) 1.1699; (R1) 1.1747; More… Intraday bias in EUR/USD remains neutral for the moment, and further decline is mildly in favor as long as 1.1778 resistance holds. On the downside, break of 1.1644 and sustained trading below 55 D EMA (now at 1.1679) will indicate medium term topping at 1.1917, on […]
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Daily Pivots: (S1) 1.3437; (P) 1.3464; (R1) 1.3511; More… Intraday bias in GBP/USD stays neutral for the moment. With 1.3535 resistance intact, further decline is mildly in favor. On the downside, break of 1.3322 will resume the fall from 1.3725 to 1.3140 support. On the upside, though, firm break of 1.3535 will argue that pullback […]
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Daily Pivots: (S1) 0.7932; (P) 0.7963; (R1) 0.7979; More… Range trading continues in USD/CHF and intraday bias stays neutral. On the upside, sustained trading above 55 D EMA (now at 0.8004) will suggest that rise from 0.7828 is already correcting whole fall from 0.9200. Further rise should the be seen to 0.8170 resistance and possibly […]
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Markets French PM Lecornu’s resignation was the latest domino in the country’s domestic political crisis triggered by President Macron’s snap elections last summer. On the president’s request, Lecornu will remain in a caretaker role with a Wednesday evening deadline to hold final talks with political blocks to explore the ability to nevertheless form a government. […]
The post Yen Remains in the Defensive appeared first on Action Forex.
Daily Pivots: (S1) 149.45; (P) 149.97; (R1) 150.88; More… Intraday bias in USD/JPY remains on the upside at this point. Break of 150.90 will resume larger rally from 139.87 to 151.22 fibonacci level. Sustained break there will carry larger bullish implication. On the downside, below 149.74 minor support will turn intraday bias neutral again first. […]
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Volatility across major currency pairs eased in Asian session today, with markets showing a brief pause after several sessions of outsized moves. Yen initially extended losses as the Nikkei 225 surged to another record high for a second straight day, but later steadied as profit-taking emerged following the sharp depreciation seen earlier in the week. […]
The post Yen Momentum Slows After Slide, But Japan Bond Market Faces Takaichi Test appeared first on Action Forex.
Forget about the US government shutdown, the French political chaos, or the new Japanese PM whom many are comparing to Margaret Thatcher and Shinzo Abe. One big piece of news from OpenAI yesterday overtook all headlines and dominated market action: the company signed a blockbuster deal with AMD — yes, Nvidia’s rival in the AI […]
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