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The EURUSD currency pair is showing strong signs of continuing its upward trend, based on Elliott Wave analysis. Since its low on September 26, 2022, the pair has been climbing. However, it hasn’t yet hit its projected target of 1.19. This suggests more room to grow in the long term. For now, the pair remains […]

The post Elliott Wave Analysis Indicates EURUSD Extending Higher in Impulsive Structure appeared first on Action Forex.

Key Highlights USD/JPY started a fresh decline below the 145.00 level. A short-term contracting triangle is forming with resistance at 143.10 on the 4-hour chart. EUR/USD could aim for a move above the 1.1420 resistance zone. Gold prices traded to a new record high above $3,350 and started a consolidation phase. USD/JPY Technical Analysis The […]

The post USD/JPY Bears Take Control—Further Decline Possible appeared first on Action Forex.

Japan’s CPI core (excluding fresh food) accelerated from 3.0% yoy to 3.2% yoy in March, matching expectations, and marking the third consecutive year it has remained above BoJ’s 2% target. CPI core-core, which strips out both food and energy, climbed more sharply from 2.6% yoy to 2.9% yoy. While the headline CPI eased slightly from […]

The post Japan’s CPI core rises to 3.2% yoy, rice prices surge at another record appeared first on Action Forex.

With notable market closures in observance of Good Friday and Easter Monday, the expiries board is rather light today and even more so at the start of next week. There is just one minor one for EUR/USD at 1.1390 that could keep a lid on price action, considering the much thinner liquidity conditions. That said, there could be exacerbated price moves during this period amid the lesser interest and heavily reduced market flows. So, I wouldn’t put too much emphasis on the expiries above.

In any case, trading sentiment as a whole continues to ride on the broader market mood and anticipation of headline risks. On the latter, it’s still all about Trump’s tariffs and trade – especially concerning US and China. So, that’s the bigger consideration.

For more information on how to use this data, you may refer to this post here.

This article was written by Justin Low at www.forexlive.com.

The theme of dollar selling has been a major one since Trump ramped up the trade war and it’s continuing so far on Friday in Asian trade.

The US dollar is down 10-20 pips across the board, led by a decline in USD/CHF.

I think that pair is a key place to watch in the days ahead as it consolidates after falling to a 10-year low.

This article was written by Adam Button at www.forexlive.com.