News

GBP/USD turns bullish in short term. But further gains might be capped by key resistance barriers. GBPUSD is climbing for a fourth straight day on Wednesday, but the gains have been limited, adding just 1% from last Thursday’s lows. Broader dollar softness has helped cable to bounce higher but worries about the forthcoming UK budget […]

The post GBP/USD Tests Uptrend Line but obstacles ahead appeared first on Action Forex.

Daily Pivots: (S1) 1.1709; (P) 1.1736; (R1) 1.1759; More… Outlook in EUR/USD is unchanged and intraday bias stays neutral. Further fall is expected as long as 1.1819 resistance holds. Considering bearish divergence condition in D MACD, sustained trading below 55 D EMA (now at 1.1675) will argue that 1.1917 was already a medium term top. […]

The post EUR/USD Daily Outlook appeared first on Action Forex.

Daily Pivots: (S1) 147.44; (P) 148.15; (R1) 148.64; More… USD/JPY’s break of 147.45 dampens the original bullish view, and suggests that rebound from 145.47 has completed at 149.95. Intraday bias is back on the downside for 145.47, as the pattern from 150.90 extends. On the upside, above 148.21 minor resistance will turn intraday bias neutral […]

The post USD/JPY Daily Outlook appeared first on Action Forex.

Daily Pivots: (S1) 1.3418; (P) 1.3442; (R1) 1.3471; More… Outlook in GBP/USD is unchanged and intraday bias remains neutral. Further decline is expected as long as 1.3535 resistance holds. Break of 1.3322 will resume the fall from 1.3725, as the third leg of the corrective pattern from 1.3787, and target 1.3140 support. In the bigger […]

The post GBP/USD Daily Outlook appeared first on Action Forex.

Daily Pivots: (S1) 0.7941; (P) 0.7963; (R1) 0.7988; More… Intraday bias in USD/CHF stays neutral and outlook is unchanged. On the upside, sustained trading above 55 D EMA (now at 0.8014) 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 […]

The post USD/CHF Daily Outlook appeared first on Action Forex.

The US government has shut down from today as politicians failed to agree on a plan to continue funding it. This is not the first time this has happened, and it certainly won’t be the last. Since 1976, there have been around 20 government shutdowns, caused by funding gaps lasting at least one business day. […]

The post US Shutdown Pressures Dollar, Adds Shine to Gold appeared first on Action Forex.

In focus today In the euro area, focus turns to the September inflation report. We expect euro area inflation to increase to 2.2% y/y from 2.0% y/y. While inflation in some countries, like France and Spain, came in lower than expected, other countries such as Germany and Italy exceeded expectations. These opposing surprises have balanced […]

The post US Government Shuts Down as Political Gridlocks Deepens appeared first on Action Forex.

Daily Pivots: (S1) 0.6580; (P) 0.6604; (R1) 0.6638; More… AUD/USD retreated after touching 0.6627 resistance and intraday bias stays neutral. Firm break of 0.6627 will suggest that pullback from 0.6706 has completed as correction, after drawing support from 55 D EMA (now at 0.6550). That will keep the larger rally from 0.5913 alive and bring […]

The post AUD/USD Daily Report appeared first on Action Forex.