Category — ActionForex Technical Analysis Reports

The EUR/USD has been doing the twist and turn for the last 2 weeks as it consolidates losses from November. This week, going into the ECB interest rate decision and the EU summit, the market anchored into a declining channel seen in the 1H chart. This chart is also showing

After the failure to sustain a break above the recently traded range. The AUD/USD fell below range support at about the 1.0150 area. This also broke below the 200hour simple moving average and pushed the RSI below 30. The break was followed by a pullback that came up to 1.0180,

The USD/JPY is in at the crossroad. We have a break below a triangle (seen more clearly in the 4H chart). The 1H chart shows that this break also break the 200hour simple moving average and pushed the RSI below 30, establishing bearish momentum in the short-term. However, the resistance

Cable failed to see a strong break below 1.5600 during the day and has risen well from the low of 1.5585. Broadly the pair is retaining its 1.5500-5800 sideways range and we expect it to continue to remain in this range in the US session today. The broader picture looks

The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.

On Thursday Dollar/Yen increased with 65 pips, after the morning descent. The currency couple appreciated from 77.12 to 77.79 yesterday, matching the positive Interbank sentiment at under +15%, closing the day at 77.62. This morning the Dollar is trading quietly against the Yen, moving at the upper end of yesterday's

AUDUSD A follow through lower on its Thursday sell off is now underway as the pair remains weak and vulnerable to the downside following a break through its key support at the 1.0149 level. This leaves the risk of a return to its major support at the 1.0000 level