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Daily Pivots: (S1) 1.3210; (P) 1.3240; (R1) 1.3270; More… Intraday bias in GBP/USD remains mildly on the upside for the moment. As noted before, corrective fall from 1.3787 could have completed at 1.3008 already. Sustained trading above 55 D EMA (now at 1.3266) should confirm and target a retest on 1.3725/3787 resistance zone. Nevertheless, break […]
The post GBP/USD Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 0.8027; (P) 0.8048; (R1) 0.8069; More… USD/CHF is still bounded in consolidations below 0.8101 and intraday bias remains neutral. Outlook is unchanged that current rise from 0.7877 is still seen as the third leg of the corrective pattern from 0.7828 low. Above 0.8101 will target 0.8123 resistance, and then 138.2% projection of […]
The post USD/CHF Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 0.8027; (P) 0.8048; (R1) 0.8069; More… USD/CHF is still bounded in consolidations below 0.8101 and intraday bias remains neutral. Outlook is unchanged that current rise from 0.7877 is still seen as the third leg of the corrective pattern from 0.7828 low. Above 0.8101 will target 0.8123 resistance, and then 138.2% projection of […]
The post USD/CHF Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 155.85; (P) 156.17; (R1) 156.63; More… USD/JPY is still bounded in consolidations below 157.88 and intraday bias remains neutral. Downside should be contained by 154.47 resistance turned support. On the upside, break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high. However, […]
The post USD/JPY Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 155.85; (P) 156.17; (R1) 156.63; More… USD/JPY is still bounded in consolidations below 157.88 and intraday bias remains neutral. Downside should be contained by 154.47 resistance turned support. On the upside, break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high. However, […]
The post USD/JPY Daily Outlook appeared first on Action Forex.
Japan’s data releases were surprisingly strong today, with both industrial output and retail sales showing impressive gains. Combined, they paint a picture of an economy that is slowly regaining momentum on both production and consumption fronts. Yet the Yen remains notably weak, failing to capitalize on the firmer-than-expected numbers. One of the key constraints remains […]
The post Japan Data Beats But Yen Lacks Traction; Dollar Heads for Worst Week Since Mid-Year appeared first on Action Forex.
A word of warning from Beijing: “We hope Malaysia will fully consider and properly handle this matter in light of its long-term national interests.”
For some context, this relates to the headline from yesterday here and this is all related to the rare earth minerals deal signed between Malaysia and the US amid Trump’s visit in October. China is clearly not happy with the situation as they are hoping to starve the US of rare earth minerals supply, using that as a trump card – no pun intended – in negotiations. China’s warning to Malaysia is that they see this as “a move to decouple Southeast Asian supply chains from Beijing’s influence”.
This article was written by Justin Low at investinglive.com.
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