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rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 15:36 GMT

The US 30 index has recovered a good chunk of its losses in the past couple of weeks and is now posting higher highs and higher lows on the four-hour chart above a short-term uptrend line drawn from the March 23 bottom. The immediate-term outlook therefor...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 15:33 GMT

EURAUD is extending its negative rally below the 50.0% Fibonacci retracement level of the up leg from 1.5340 to 1.9800 at 1.8740 and beneath the 40-day simple moving average (SMA) currently at 1.7543. The selling interest started from the eleven-year peak...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 15:22 GMT

How many times have you heard the saying Dont Fight the Fed...
rss: Technical Analysis • Published Thu, 09 Apr 2020 15:16 GMT

Since December 30, the EURUSD pair has trended-down within the depicted bearish channel until the depicted two successive Bottoms were established around 1.0790 then 1.0650 where the EUR/USD pair looked OVERSOLD after such extensive bearish decline.Few we...
rss: Technical Analysis • Published Thu, 09 Apr 2020 14:44 GMT

The Fed introduced a new volume of loans of $ 2.3 trillion to support employment, at a time when the report showed a new increase in applications for unemployment benefits - 6.6 million for the week.Large amounts are provided within the package for the fo...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 14:16 GMT

Key insights from the week that was. This week has been a quiet one for data. And in its absence, market participants have instead focused on the potential flattening of the COVID-19 infection curve in both Europe and the US. Asset prices have rallied as ...
rss: Technical Analysis • Published Thu, 09 Apr 2020 14:12 GMT

EUR / USDThe euro is waiting for two things today:1) Report on the negotiations regarding new assistance that would help the EU economy fight the effects of the coronavirus - we are talking about a package worth more than 500 billion euros.2) The weekly U...
rss: Fundamental Analysis • Published Thu, 09 Apr 2020 13:58 GMT

The Euro appreciated against the US Dollar, following the US PPI and Unemployment Claims data release on Thursday at 12:30 GMT. The EUR/USD exchange currency rate gained 11 pips or ...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 13:42 GMT

Jobless claims remained at a very high level for the week ended on April 4th, reaching 6.61 million. This was down slightly from the previous week, which was revised up to 6.87 million (previous: +6.65) However, it was well above what the markets had expe...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 13:40 GMT

1.01 million fewer Canadians were working in March, an unprecedented decrease, and enough to drop the employment rate (share of those 15+ who are employed) to 58.5%, the lowest reading since 1997. Put differently, roughly 1 in 20 Canadians who had been wo...
rss: Technical Analysis • Published Thu, 09 Apr 2020 12:42 GMT

news:Technical analysis: BTC has been trading downwards as I expected. The price broke the Pitchfork mini upward channel and it gave us the first signal for the potential chage in the trend from bullish to bearish. My analysis from yesterday is still act...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 12:30 GMT

AUDJPY posted solid gains in recent sessions, continuing to recover after crashing in late February. The pair is now testing the 67.70 zone and crucially, a close above this region could turn the outlook back to neutral, from cautiously negative now. Some...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 12:28 GMT

Chinas 50 stock index (CHI50) is testing the ascending trendline that has been navigating the market since the slump to a one-year low of 11,558. The negative cross between the red Tenkan-sen...
rss: Technical Analysis • Published Thu, 09 Apr 2020 11:42 GMT

Technical outlook: EURUSD is trading around 1.0856 at this point of writing after printing intraday lows at 1.0829 yesterday. As seen on the chart here, prices had broken out of resistance trend line earlier and managed to print highs at 1.0927. The...
rss: Technical Analysis • Published Thu, 09 Apr 2020 10:59 GMT

Overview:The GBP/USD pair started recovering until it reaches the top point of 1.2484. Amid the previous events, the price is still moving between the levels of 1.2256 and 1.2484. Pivot point sets at the price of 1.2256. Resistance and support are seen ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 10:53 GMT

The British pound is appearing increasingly bullish against the US dollar currency as the pair attempts to gain strength above the 1.2400 level. A bullish inverted head and shoulders pattern is building and is projecting a move towards the 1.2800 level. T...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 10:50 GMT

Notes/Observations Another attempt at key meetings to resolve issues in Europe and in oil markets can solidarity be achieved Europe looks to continue to find solutions for a joint funding for increasing borrowing needs Oil markets hoping that Russia and S...
rss: Technical Analysis • Published Thu, 09 Apr 2020 10:13 GMT

At the beginning of April, the EUR/HUF exchange rate reversed south from the 368.00 level. ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 10:05 GMT

EURCHF has been in a descending trend since April 2019 and is currently hovering near the five-year low of 1.0517. In the short-term, the price is lacking direction as it remains within the 1.0650 1.0517 channel over the last month and is capped by the s...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 10:02 GMT

On Wednesday, the EUR/USD currency pair tested the upper boundary of the medium-term descending channel. During today] The post EUR/USD Broke Upper Channel Line appeared first on Action Forex....
rss: Technical Analysis • Published Thu, 09 Apr 2020 09:59 GMT

The EUR/PLN currency pair has been consolidating within the descending triangle pattern since the end of March. ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 09:59 GMT

The pair is moving within the narrow range for the second day, with action being capped by 100DMA (108.96) and falling thin daily cloud. Daily indicators are bearishly aligned (negative momentum is rising and stochastic heads south) that adds to limiting ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 09:43 GMT

On Wednesday, the XAU/USD exchange rate consolidated at the 1,650.00 level. During today] The post XAU/USD Is Above 1,640.00 appeared first on Action Forex....
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 09:39 GMT

The Euro edged higher after Wednesday] The post EUR/USD Outlook: The Euro Stands At The Front Foot Ahead Of Todays Key Events appeared first on Action Forex....
rss: Technical Analysis • Published Thu, 09 Apr 2020 09:26 GMT

Yesterday, the USD/JPY currency pair consolidated in the 108.80 area. During Thursday morning, the pair maintained its consolidation. ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 09:07 GMT

EURUSD appears to be restricted by the 100-period simple moving average (SMA) after finding some support from the mid-Bollinger band around the 1.0838 level, that being the 23.6% Fibonacci retracement of the down leg from the 13-month high of 1.1496 to th...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 09:06 GMT

NZDUSD created a higher low at 0.5921 and strengthened above the middle Bollinger band, which is also the 20-day simple moving average (SMA), increasing hopes for further improvement in the short-term. The RSI could add to the positive signals if it manag...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 09:05 GMT

USDJPY recorded a stunning upside rally last month towards a one-month high of 111.70, recouping the previous strong losses to the 41-month low. In the preceding week, though, the pair was on the backfoot before it returned slightly up, and the technical ...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 09:04 GMT

Hopes for a production-cut deal by OPEC today catapult oil higher Deal will likely get done, yet any positive reaction in oil may be short lived Stocks climb with crude, but watch out for US jobless claims today Euro will stay tuned to the Eurogroup meeti...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 09:00 GMT

The common European currency remained stable against the Japanese Yen on Wednesday. The currency pair consolidated below the 118.50 area during yesterday] The post EUR/JPY Consolidated Below 118.50 appeared first on Action Forex....
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 08:54 GMT

The NZD/USD pair bounced off from a support level formed by the 200 hour simple moving average at 0.5945 on Wednesday. As a result, the currency pair surged by 95 basis points or 1.43% during yesterday] The post NZD/USD Target At 0.6137 appeared first on ...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 08:52 GMT

World markets returned to growth on Wednesday on new signs of stabilization in the number of new cases of coronavirus infection. Formally, it is too early to talk about quarantine removal. However, politicians are already indicating that they are working ...
rss: Technical Analysis • Published Thu, 09 Apr 2020 08:51 GMT

Trading RecommendationEntry: 1.4071Reason for Entry: 38.2% Fibonacci retracement, horizontal overlap supportTake Profit : 1.4254Reason for Take Profit: 100% Fibonacci extension , 76.4% Fibonacci retracementStop Loss: 1.3945Reason for Stop loss: 100% Fibon...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 08:39 GMT

Cable remains in green and probes again above 1.24 barrier in early Thursdays trading, boosted by mild optimism in the market and mixed UK data which did not deteriorate in a grade that was expected. Fresh advance moved into the upper side of the range th...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 08:35 GMT

Rates: Better safe than sorry ahead of the long weekend US weekly jobless claims are today] The post Currencies: (Trade-Weighted) Dollar Stabilizes Near 100 As Global FX Stress Eases appeared first on Action Forex....
rss: Technical Analysis • Published Thu, 09 Apr 2020 08:29 GMT

USD/JPY has broken out of the squeeze between the 55 and 100-hour simple moving averages. However, the break out did not result in a sharp move, as the pair ...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 08:28 GMT

Equities in the New York gained another 3% on Wednesday with the Federal Reserve (Fed) meeting minutes showing that the bank is ready for a forceful response amid all participants viewed the near-term US economic outlook as having deteriorated sharply in ...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 08:27 GMT

Oil futures jumped on both sides of the Atlantic on expectations the worlds biggest producers would finally agree on production cuts. That comes a little over a month after the expired OPEC+ deal led to a surge of crude production by Saudi Arabia in a fig...
rss: Technical Analysis • Published Thu, 09 Apr 2020 08:27 GMT

The NZD/USD pair bounced off from a support level formed by the 200 hour simple moving average at 0.5945 on Wednesday. As a result, the currency pair surged by 95 ...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 08:25 GMT

What a session we have in store an OPEC+++ meeting, US jobless claims and the final trading day for most heading into the Easter weekend. It] The post Its Going To Be A Looong Weekend appeared first on Action Forex....
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 08:23 GMT

The EUR/USD is bearish on 3 consecutive timeframes on my CAMMACD.SIT template. The price is below the channel on H4, H1 and M15. We can see that the price is moving sideways. However, we can see that the EUR/USD is also trying to break below 1-2-3 pattern...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 08:22 GMT

Gold prices are trading steadily near the resistance level of 1655. At the time of writing, gold is trading near the minor trend line. To confirm the downside, a breakout from this level is required. The lower support at 1594 1600 looks like the most lik...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 08:22 GMT

Crude oil prices fell slightly lower as it maintains a downside bias following the failure to break out near the resistance level. However, price action is pushing slightly higher, gaining over 0.90% on the day. The pullback could be seen as a higher low ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 08:21 GMT

The pound sterling is building up on some modest momentum. This comes after prices retreated back to the support area of 1.2277. At this rate, we expect the upside bias to persist. In the near term, the upside range of 1.2485 will be tested. If price brea...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 08:20 GMT

The euro currency is giving back some of the gains following the strong rally in the past few sessions. After rising to a local high of 1.0903, price retreated slightly lower. This has formed a higher low as a result. If price breaks out above the 1.0903 ...
rss: Technical Analysis • Published Thu, 09 Apr 2020 07:59 GMT

Trading RecommendationEntry: 112.479Reason for Entry: Horizontal overlap resistance, 61.8% Fibonacci retracement, 78.6% fibonacci extensionTake Profit : 111.40Reason for Take Profit: 50% Fibonacci retracement, horizontal swing low support Stop Loss: 113...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 07:58 GMT

Pivot (invalidation): 1.0880 Our preference Short positions below 1.0880 with targets at 1.0845 & 1.0825 in extension. Alternative scenario Above 1.0880 look for further upside with 1.0900 & 1.0915 as targets. Comment A break below 1.0845 would trigger a ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 07:51 GMT

Pivot (invalidation): 0.6205 Our preference Long positions above 0.6205 with targets at 0.6250 & 0.6275 in extension. Alternative scenario Below 0.6205 look for further downside with 0.6180 & 0.6155 as targets. Comment A support base at 0.6205 has formed ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 07:50 GMT

Pivot (invalidation): 1.4040 Our preference Short positions below 1.4040 with targets at 1.3995 & 1.3975 in extension. Alternative scenario Above 1.4040 look for further upside with 1.4075 & 1.4105 as targets. Comment The upward potential is likely to be ...
rss: Technical Analysis • Published Thu, 09 Apr 2020 07:48 GMT

On Thursday, the EUR/USD passed the support of the 55-hour simple moving average, which began to provide resistance at 1.0868. In the meantime, the pair still found support in ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 07:48 GMT

Pivot (invalidation): 0.9700 Our preference Long positions above 0.9700 with targets at 0.9730 & 0.9745 in extension. Alternative scenario Below 0.9700 look for further downside with 0.9680 & 0.9665 as targets. Comment The RSI lacks downward momentum. The...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 07:44 GMT

Pivot (invalidation): 24.95 Our preference Long positions above 24.95 with targets at 26.60 & 27.20 in extension. Alternative scenario Below 24.95 look for further downside with 24.25 & 23.55 as targets. Comment Technically the RSI is above its neutrality...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 07:42 GMT

Pivot (invalidation): 1658.00 Our preference Short positions below 1658.00 with targets at 1636.00 & 1624.00 in extension. Alternative scenario Above 1658.00 look for further upside with 1669.00 & 1678.00 as targets. Comment The RSI is mixed to bearish. T...
rss: Technical Analysis • Published Thu, 09 Apr 2020 07:33 GMT

The AUD/USD pair bounced off from the lower boundary of an ascending channel pattern at 0.6119 on Wednesday. As a result, the currency pair surged by 113 basis points or ...
rss: Technical Analysis • Published Thu, 09 Apr 2020 07:30 GMT

Markets remain cautiously positive. The main focus remains on the situation around the coronavirus and its impact on the global economy as a whole and on individual countries.In recent days, markets have begun to show a steady positive mood, which is asso...
rss: Technical Analysis • Published Thu, 09 Apr 2020 07:28 GMT

Today we take a look at NZDUSD and see how we are going to play the bounce!We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today!The material has been provided...
rss: Technical Analysis • Published Thu, 09 Apr 2020 07:14 GMT

Forecast for April 9: Analytical review in H1 scale: For Gold, the main key levels on the H1 scale are: 1726.71, 1703.84, 1692.46, 1672.88, 1652.11, 1638.66 and 1620.04. Here, we are following the development of the local ascending structure of Ma...
rss: Technical Analysis • Published Thu, 09 Apr 2020 07:06 GMT

Forecast for April 9:Analytical review of currency pairs on the scale of H1:For the euro / dollar pair, the key levels on the H1 scale are: 1.0978, 1.0916, 1.0876, 1.0791, 1.0761, 1.0704 and 1.0622. Here, we are following the development of the descending...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 06:30 GMT

The British pound continues to rise against the greenback as confidence grows that a medium-term price floor may have been established in the pair this week. The GBPUSD pair has a strong chance of rallying towards the 1.2600 level while price trades above...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 06:29 GMT

The euro currency is holding on to recent gains against the US dollar, following the release of Meeting Minutes from the last FOMC meeting. A breakout above the 1.0980 level could prompt a quick rally in the EURUSD pair towards the 1.1060 level. Looking a...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 06:28 GMT

Litecoin is starting to lose upside momentum in the short-term as bulls struggle to break above the psychological $50.00 resistance level. Failure to hold price above the $45.00 level could see the LTCUSD pair sold back towards the $36.50 support level. L...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 06:27 GMT

US stocks rallied by more than three percent as markets received several positive catalysts. First, the number of new coronavirus cases in the US is slowing. On Tuesday, the cases increased by 8.1%, which was the third day of a consecutive slowdown. Secon...
rss: Technical Analysis • Published Thu, 09 Apr 2020 06:16 GMT

Technical Market Outlook:The EUR/USD pair has hit the 38% Fibonacci retracement at the level of 1.0913 but failed to rally higher after a Pin Bar candlestick pattern has been made at the top of the move. If the bulls will keep trying to rally, then they m...
rss: Technical Analysis • Published Thu, 09 Apr 2020 06:12 GMT

Technical Market Outlook:The GBP/USD pair keeps trading inside of the narrow price range located between the levels of 1.2199 - 1.2411. The volatility has decreased and Cable is not able to make a new local high on H4 time frame chart, but recently the be...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 06:10 GMT

General Trend: Aussie equities outperform amid strength in Consumer Discretionary, Energy and Financial firms. HK gaming companies rise over 3% HK govt announced stimulus measures after the market close on Wed, Trump commented on US gaming sector Shanghai...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 05:56 GMT

For the 24 hours to 23:00 GMT, the EUR declined 0.35% against the USD and closed at 1.0858. In the US, MBA mortgage applications dropped 17.9% in the week ended 3 April 2020, compared to a rise of 15.3% in the prior week. Separately, the Federal Open Mark...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 05:51 GMT

For the 24 hours to 23:00 GMT, the USD rose 7.48% against the CAD and closed at 1.4018. On the data front, Canada] The post Canadas Housing Starts Fell Less-Than-Expected In March appeared first on Action Forex....
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 05:41 GMT

For the 24 hours to 23:00 GMT, Crude Oil rose 6.25% against the USD and closed at USD26.18 per barrel, amid hopes of production cut by Saudi Arabia and Russia. Additionally, the Energy Information Administration (EIA) reported that crude oil production fe...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 05:04 GMT

Today] The post Asias Attempt At Essential Oil appeared first on Action Forex....
rss: Technical Analysis • Published Thu, 09 Apr 2020 04:58 GMT

The dollar index, which measures the US Dollar against a basket of major currencies, has declined by 5.17% since the middle of March. The exchange rate tested the 200 ...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 04:55 GMT

Short Term Elliott Wave View suggests AUDJPY rally from March 19 low shows incomplete sequence favoring more upside. The rally is currently unfolding as a double three structure. Up from March 19 low, wave (W) ended at 67.7 and pullback in wave (X) ended ...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 04:08 GMT

In the emergency Federal Open Market Committee] The post Minutes Reflect FOMC Concerns on COVID-19 appeared first on Action Forex....
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 03:54 GMT

Key Highlights AUD/USD recovered nicely above the 0.6000 pivot area. Recently, there was a break above a declining channel with resistance near 0.6080 on the 4-hours chart. NZD/USD is also showing a few positive signs above the 0.5900 support area. The US...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 03:37 GMT

STOCKS Global indices manage to sustain higher and keeps alive the chances of seeing a rise in the near-term although there seems to be lack of strength and confidence. Dow has bounced again and keeps alive the chances of a near-term rise. DAX seems to la...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 03:31 GMT

Thursday] The post OPEC+ Playbook appeared first on Action Forex....
rss: Technical Analysis • Published Thu, 09 Apr 2020 03:20 GMT

AUD / USDThe Australian dollar reached its upper target of 0.6249 (February 2009 low) yesterday. Now, the question is: will it turn into a medium-term decline today, or mark the MACD line on the daily time frame (0.6354). The Marlin oscillator indicates a...
rss: Action Forex • Fundamental Analysis • Published Thu, 09 Apr 2020 03:17 GMT

Thursday could be an extremely volatile day for the USD/CAD. Tomorrow, Canada releases the Employment Change for March, which is expected to be -350,000 vs +30,300 in February. As with the US Nonfarm payrolls last week, Canada is expecting a large drop in...
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 03:15 GMT

It] The post Silver And Gold -Which Is Better To Own Right Now appeared first on Action Forex....
rss: Action Forex • Technical Analysis • Published Thu, 09 Apr 2020 03:10 GMT

GOLD faces risk of price recovery despite its Wednesday price hesitation. On the upside, resistance resides at the 1,650.00 level. Further out, resistance stands at the 1,660.00 level. A break below here will aim at 1,670.00. On the downside, support sits...
rss: Technical Analysis • Published Thu, 09 Apr 2020 03:09 GMT

EUR/USD The euro is not rushing to break through the technical support the "bullish" mood has slightly strengthened over the past day. The signs of the previous testing of the target range of 1.0955 / 80 have increased before going into a medium-term dec...
rss: Technical Analysis • Published Thu, 09 Apr 2020 02:04 GMT

Since the Swissie has passed through the 0.9725 level, the pair may decline. The pair could enter a consolidation phase but now it is trying to test the nearest liquidity pool at the 0.9685-0.9675 levels. As long as USD/CHF does not retrace to 0.9797, it ...
rss: Technical Analysis • Published Wed, 08 Apr 2020 16:32 GMT

In our previous analysis when Gold price was trading around $1,650 I said that we expect a pull back in Gold price. So far the pull back has been very shallow and so far important support trend lines remain intact.Green line - supportRed line - resistance...
rss: Action Forex • Fundamental Analysis • Published Wed, 08 Apr 2020 15:32 GMT

The pound has bounced back from the lows it brushed soon after news broke that the UK prime minister, Boris Johnson, has been moved to intensive care a day after being hospitalized for continuing to show symptoms of the coronavirus. Johnson spent a second...
rss: Action Forex • Technical Analysis • Published Wed, 08 Apr 2020 15:29 GMT

US crude inventories rose by 15.2 million barrels in week to 3 Apr, in the biggest weekly crude stocks rise in the history. The news were not a big surprise to the markets, although consensus was much lower (9.2 mln bls) after previous weeks build of 13.8...
rss: Action Forex • Fundamental Analysis • Published Wed, 08 Apr 2020 15:28 GMT

This will be a pivotal week for energy markets. The worlds largest oil producers will meet to discuss cutting their production in an attempt to stabilize a market that has been devastated by collapsing demand. OPEC and Russia will sit down for talks on Th...
rss: Action Forex • Technical Analysis • Published Wed, 08 Apr 2020 15:26 GMT

Silver bulls surrendered to the 200-period moving average (SMA) on the four-hour chart earlier this week and shifted sideways, pausing the uptrend at a fresh high of 15.50. Downside risks seem to be increasing as the RSI is pointing down to its 50 neural ...
rss: Action Forex • Fundamental Analysis • Published Wed, 08 Apr 2020 14:50 GMT

It didnt take long for the US dollar to reclaim its crown as king of currencies after a brief but sharp sell-off in late February. An acute shortage of dollars across global markets, driven by a panic rush for cash as the virus turmoil deepened, has bolst...
rss: Action Forex • Fundamental Analysis • Published Wed, 08 Apr 2020 14:47 GMT

Canada is next in line, after the US, to publish a devastating jobs report thanks to the extraordinary Covid-19 lockdown. The report, due out on Thursday at 12:30 GMT, could pressure the loonie, though the size of volatility could...
rss: Action Forex • Fundamental Analysis • Published Wed, 08 Apr 2020 14:02 GMT

Canadian housing starts declined 7.3% (m/m) to a reasonably healthy 195.2k units in March. This brought the 6-month moving average down to 204.7k from 209.1k in February. Declines were concentrated in multi-family units, where urban starts dropped -13.4% ...
rss: Technical Analysis • Published Wed, 08 Apr 2020 13:57 GMT

Outlook for EUR/USD. A lot of macroeconomic data was unveiled during recent days. 1. In Europe, the epidemic has passed its peak. The epidemiological situation has improved in Italy and Spain. 2. Eurozone finance ministers failed to agree on the r...
rss: Technical Analysis • Published Wed, 08 Apr 2020 13:38 GMT

Since December 30, the EURUSD pair has trended-down within the depicted bearish channel until the depicted two successive Bottoms were established around 1.0790 then 1.0650 where the EUR/USD pair looked OVERSOLD after such extensive bearish decline.Few we...
rss: Fundamental Analysis • Published Wed, 08 Apr 2020 13:01 GMT

Next week, data is bound to reveal, how has the coronavirus continued to impact the US economy. In addition, the Reserve Bank of Canada is expected to make a rate ...
rss: Technical Analysis • Published Wed, 08 Apr 2020 12:38 GMT

Technical outlook:Gold is facing strong resistance at $1,703 levels and the yellow metal is expected to stay lower. The overall structure is looking bearish until prices stay below $1,703 levels while a break higher would test $1,750. At this point in wri...
rss: Technical Analysis • Published Wed, 08 Apr 2020 12:09 GMT

Corona virus news:Boris Johnson has spent a second night in intensive care amid concerns about the seriousness of his condition and how the government will make key decisions about the coronavirus pandemic in his absence.The foreign secretary, Dominic Raa...
rss: Action Forex • Fundamental Analysis • Published Wed, 08 Apr 2020 12:07 GMT

In America, the spotlight will be on Thursdays weekly jobless claims and consumer confidence numbers, which will reveal how quickly unemployment is rising and how badly the consumer has been hit. Contrary to conventional wisdom though, a disappointing set...
rss: Action Forex • Technical Analysis • Published Wed, 08 Apr 2020 12:03 GMT

WTI oil price is moving within tight range on Wednesday but holding above important 10DMA support ($23.49) which contained Tuesday] The post WTI OIL Outlook: Oil Price Remains At The Back Foot As All Eyes Turn To OPEC+ Meeting appeared first on Action For...
rss: Action Forex • Technical Analysis • Published Wed, 08 Apr 2020 12:01 GMT

Bitcoin is struggling to move above its key 50-day moving average as the recent rally in the cryptocurrency markets starts to lose momentum. It is possible that the BTCUSD pair could fall back towards the $7,000 level if bulls fail to make a new higher da...
rss: Action Forex • Technical Analysis • Published Wed, 08 Apr 2020 11:59 GMT

The US dollar remains under downside pressure on Wednesday against the Japanese yen as bullish struggle to move price above the 109.00 level. The USDJPY pair could fall back towards the 107.60 level if bulls continue to struggle move price above this key ...
rss: Technical Analysis • Published Wed, 08 Apr 2020 11:40 GMT

Just before midday GMT hours, the yellow metal passed the support of the 55-hour simple moving average, which had kept the commodity price up throughout the first half of the ...
rss: Technical Analysis • Published Wed, 08 Apr 2020 11:32 GMT

From a comprehensive analysis, we see a recovery process that did not take long. And now about the details. The technical correction that occurred when the variable support of 1.0775 was detected led the quote to the area of 1.0925, where there were a s...