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USD/CHF Technical: Potential Swiss Franc Bullish Range Breakout as NFP Looms - Action Forex
The USD/CHF’s sideways range environment since its 1 August 2025 swing high of 0.8170 has been getting compressed as we approach the key risk event for the FX market this week, the US non-farm payrolls and unemployment rate for August out this Friday, 5 September.
EUR/USD Daily Outlook - Action Forex
Intraday bias in EUR/USD remains neutral for the moment, as range trading continues. Further rise is in favor as long as 1.1573 support holds. Corrective fall from 1.1829 should have completed with three waves down to 1.1390. On the upside, above 1.1741 will bring retest of 1.1829 high first. Firm break there will resume larger up trend. However, sustained break of 1.1573 will dampen this view, and indicate that corrective pattern from 1.1829 is extending with another falling leg towards 1.1390 again.
Dollar Strengthens But Remains Under Pressure: Markets Await Jobs Data - Action Forex
The US currency managed to regain some ground in the first half of the week, yet no solid foundation for sustained growth has emerged. Market participants remain cautious, weighing both the latest macroeconomic data and expectations ahead of the release of the US non-farm payrolls report (NFP). This publication is traditionally regarded as a key indicator for assessing the Federal Reserve’s next steps and is capable of setting the tone for markets in the coming weeks. Meanwhile, with persistent pressure on the dollar, more analysts are expecting an increase in net short positions by the end of September.
EUR/JPY Daily Outlook - Action Forex
Intraday bias in EUR/JPY stays mildly on the upside for retesting 173.87 high. Decisive break there will resume larger rally from 154.77, and target a retest on 175.41 key resistance. On the downside, however, break of 171.09 will turn bias to the downside for 169.69 support, and possibly below.
USD/CAD Daily Outlook - Action Forex
Intraday bias in USD/CAD remains neutral for the moment. On the upside, firm break of 1.3813 resistance will retain near term bullishness that rebound from 1.3538 is still in progress. Intraday bias will be back on the upside for retesting 1.3923 next. On the downside, decisive break of 1.3720 will argue that the corrective pattern from 1.3538 has already completed at 1.3923. Intraday bias will be back on the downside for 1.3574 support first.
EUR/AUD Daily Outlook - Action Forex
EUR/AUD had another take on 38.2% retracement of 1.7245 to 1.8155 at 1.7807 but recovered quickly. Intraday bias remains neutral. On the downside, sustained break of 1.7807 should confirm that whole rise from 1.7245 has completed. Corrective pattern from 1.8554 should then be in its third leg. Further decline should be seen to 61.8% retracement at 1.7593. On the upside, break of 1.7932 resistance will retain near term bullishness and bring retest of 1.8155 resistance instead.
Core Bonds Entered Calmer Water - Action Forex
Core bonds entered calmer water after the sharp declines on Tuesday, driven by a spike in fears for unsustainable public finances. UK gilts were in markets’ crosshairs back then but outperformed yesterday. Yields eased up to 9 bps at the very long end of the curve. Shorter tenors lagged behind, weighed down by an overall hawkish appearance from BoE policymakers, including Governor Bailey, before UK parliament.
GBP/JPY Daily Outlook - Action Forex
Range trading continues in GBP/JPY and intraday bias stays neutral. With 197.84 support intact, further rise is in favor. Firm break of 200.26 will confirm resumption of whole rise from 184.35, and that from 180.00. Further rally should then be seen to 100% projection of 180.00 to 199.79 from 184.35 at 204.14. On the downside, however, break of 197.93 support should confirm short term topping, and turn bias to the downside for 195.01 support next.
Cautious Tone Returns as ADP, ISM Set Stage for NFP - Action Forex
Markets adopted a cautious tone again today, as attention swung back to U.S. economic data. Today’s ADP private payrolls and ISM services figures are seen as key precursors to tomorrow’s highly anticipated nonfarm payrolls. The numbers are expected to sharpen the Fed’s rate-cut calculus, with traders reluctant to take large positions before the release.
USD/CHF Daily Outlook - Action Forex
Intraday bias in USD/CHF remains neutral and outlook is unchanged. On the downside, break of 0.7984 will resume the fall from 0.8170 to 0.7910 support first, and then retest of 0.7871 low. However, break of 0.8103 resistance will turn bias to the upside to resume the rebound from 0.7871 through 0.8170.
Eurozone retail sales fall -0.5% mom, food and fuel drag - Action Forex
Eurozone retail sales fell -0.5% mom in July, steeper than expectations of a -0.2% mom decline. Food, drinks, and tobacco sales dropped -1.1%, while automotive fuel purchases slumped -1.7%. Non-food sales edged higher by just 0.2%, offering little offset to the overall weakness.
GBP/USD Daily Outlook - Action Forex
Intraday bias in GBP/USD remains neutral for the moment. Overall outlook is unchanged that corrective pattern from 1.3787 is extending. Below 1.3332 will bring deeper pullback. But downside should be contained by 38.2% retracement of 1.2099 to 1.3787 at 1.3142. On the upside, break of 1.3549 resistance should resume the rebound from 1.3140 towards 1.3787 high.
Swiss CPI subdued at 0.2% yoy, but no immediate deflation threat seen - Action Forex
Swiss consumer prices slipped in August, with headline CPI falling -0.1% mom, below expectations for a flat reading. Core CPI, which excludes fresh products and energy, also dropped -0.1% on the month, as both domestic and imported product prices declined by -0.1% mom.
EUR/CHF Daily Outlook - Action Forex
EUR/CHF's recovery from 0.9317 is still in progress and intraday bias remains neutral. Outlook is unchanged at corrective pattern from 0.9218 might have completed with three waves up to 0.9452 already. Further decline is in favor as long as 0.9403 resistance holds. On the downside, below 0.9317 will target 0.9265 support first. Firm break there should resume larger fall to retest 0.9204 low. Nevertheless, break of 0.9403 will dampen this view and bring stronger rise back to 0.9452 resistance instead.
EUR/GBP Daily Outlook - Action Forex
Intraday bias in EUR/GBP remains mildly on the upside, and further rise should be seen to retest 0.8752 resistance. Firm break there will resume whole rally from 0.8221. Next target is 0.8867 fibonacci level. For now, risk will stay on the upside as long as 0.8636 support holds, in case of retreat.
AUD/USD Daily Report - Action Forex
AUD/USD rebounded strongly after dipping to 0.6482, but upside is limited below 0.6559 resistance. Intraday bias is turned neutral first. Overall, corrective pattern from 0.6624 could still extend further. Below 0.6482 will turn bias to the downside for 0.6413 support and possibly below. On the upside, though, firm break of 0.6567 should indicate that the corrective pattern has completed and larger rally is ready to resume through 0.6624.
USD/JPY Daily Outlook - Action Forex
USD/JPY retreated notably after brief rise to 149.12 and intraday bias is turned neutral first. On the upside, above 149.12 will resume the rebound from 146.20 to retest 150.90 high. Break there will resume the rise from 139.87 to 151.22 fibonacci level. However, on the downside, break of 146.65 support will resume the decline from 150.90 through 146.20 instead.
AUD/USD Daily Report - Action Forex
AUD/USD's break of 0.6504 support suggest that rebound from 0.6413 has completed at 0.6559. Corrective pattern from 0.6624 is extending with another falling leg. Intraday bias is mildly on the downside for 0.6413 support, and possibly below. On the upside, though, firm break of 0.6567 should confirm that the corrective pattern has completed and larger rally is ready to resume through 0.6624.
Tomorrow and Friday the Real Deal , With ADP Job Report, Services ISM and Payrolls Coming Up - Action Forex
Tomorrow and Friday is the real deal though, with the ADP job report, services ISM and payrolls coming up. ECB’s Lagarde speeches at the European Systemic Risk Board’s conference, probably without touching on monetary policy. The Fed releases its Beige Book, kickstarting its FOMC September cycle.
EUR/CHF Daily Outlook - Action Forex
Intraday bias in EUR/CHF remains neutral. Outlook is unchanged at corrective pattern from 0.9218 might have completed with three waves up to 0.9452 already. Further decline is in favor as long as 0.9403 resistance holds. On the downside, below 0.9317 will target 0.9265 support first. Firm break there should resume larger fall to retest 0.9204 low. Nevertheless, break of 0.9403 will dampen this view and bring stronger rise back to 0.9452 resistance instead.
USD/JPY Daily Outlook - Action Forex
Intraday bias in USD/JPY remains mildly on the upside at this point. Pullback from 150.90 could have completed after drawing support from 55 D EMA (now at 147.06). Further rise would be seen to 150.90, and then 151.22 fibonacci level. Firm break there will carry larger bullish implication. On the downside, however, break of 146.65 support will resume the decline from 150.90 through 146.20 instead.
Eurozone PPI beats expectations at 0.4% mom on energy surge - Action Forex
Eurozone producer prices rose more than expected in July, with PPI up 0.4% mom and 0.2% yoy, compared with consensus of 0.2% mom and 0.1% yoy. The data suggest some renewed pipeline pressures, largely driven by energy. Across the wider EU, PPI increased 0.6% mom and 0.1% yoy. Overall, the figures indicate modest upward pressure in the production pipeline.
Euro Area Inflation Steady at ECB's 2% Target - Action Forex
In the euro area, HICP inflation rose to 2.1% y/y in August, up from 2.0% y/y in July, with core inflation at 2.3% y/y, above expectations of 2.2% y/y. This marks the fourth consecutive month that inflation has aligned with the ECB's target. Monthly trends remain consistent with what we have seen the past months. Services inflation stays elevated at around 3% y/y, while energy prices decline and goods price increases remain minimal. We expect inflation to average 2.1% y/y in Q4 before falling below target to 1.8% y/y in 2026.
USD/CAD Daily Outlook - Action Forex
Intraday bias in USD/CAD stays neutral. On the upside, firm break of 1.3813 resistance will retain near term bullishness that rebound from 1.3538 is still in progress. Intraday bias will be back on the upside for retesting 1.3923 next. On the downside, decisive break of 1.3720 will argue that the corrective pattern from 1.3538 has already completed at 1.3923. Intraday bias will be back on the downside for 1.3574 support first.
BoJ’s Ueda meets PM Ishiba, stresses stable FX and policy vigilance - Action Forex
BoJ Governor Kazuo Ueda said he discussed economic and market conditions, including foreign exchange moves, in a meeting with Prime Minister Shigeru Ishiba today. Ueda told reporters afterward that “it’s desirable for currency rates to move stably, reflecting fundamentals,” but declined to elaborate further on the details of the exchange.
USD/CHF Daily Outlook - Action Forex
Intraday bias in USD/CHF stays neutral for the moment. On the downside, break of 0.7984 will resume the fall from 0.8170 to 0.7910 support first, and then retest of 0.7871 low. However, break of 0.8103 resistance will turn bias to the upside to resume the rebound from 0.7871 through 0.8170.
Elliott Wave Analysis Nasdaq Futures (NQ) Double Correction Targets 22752 Downside - Action Forex
Nasdaq Futures (NQ) display a bearish sequence with a lower low from the 13 August high, signaling potential for further declines. The decline from this peak is unfolding as a double three Elliott Wave structure. From the 13 August high, wave W concluded at 23035. The subsequent wave X rally formed a zigzag pattern, with wave ((a)) peaking at 23369.25 and wave ((b)) dipping to 23076.75. The Index then climbed in wave ((c)) to 23804.49, completing wave X.
GBP/USD Daily Outlook - Action Forex
Intraday bias in GBP/USD remains on the downside for the moment. Corrective pattern from 1.3787 is extending with another falling leg. Deeper decline would be seen back to 1.3140 support. But downside should be contained by 38.2% retracement of 1.2099 to 1.3787 at 1.3142. But still, for now, risk will stay mildly on the downside as long as 1.3459 resistance holds, in case of recovery.
EUR/AUD Daily Outlook - Action Forex
Intraday bias in EUR/AUD stays neutral at this point. On the downside, sustained break of 38.2% retracement of 1.7245 to 1.8155 at 1.7807 should confirm that whole rise from 1.7245 has completed. Corrective pattern from 1.8554 should then be in its third leg. Further decline should be seen to 61.8% retracement at 1.7593. On the upside, break of 1.7979 resistance will retain near term bullishness and bring retest of 1.8155 resistance instead.
Global Risk Sentiment Hit by Sovereign Fears and Rising Yields; Dollar Firms as Yen, Sterling Lag - Action Forex
Asian equities traded lower today, tracking the decline on Wall Street overnight, as investors grappled with rising bond yields and renewed trade uncertainty. Even stronger-than-expected Chinese services PMI and robust Australian GDP data failed to lift sentiment, with risk aversion setting the tone across the region. Additionally, markets remain cautious ahead of Friday’s closely watched U.S. nonfarm payrolls report, which will provide critical guidance for the Fed’s September decision. For now, positioning is defensive, with equities in the regional under some pressure.
EUR/JPY Daily Outlook - Action Forex
Intraday bias in EUR/JPY remains on the upside for retesting 173.87 high. Decisive break there will resume larger rally from 154.77, and target a retest on 175.41 key resistance. On the downside, however, break of 171.09 will turn bias to the downside for 169.69 support, and possibly below.
GBP/JPY Daily Outlook - Action Forex
GBP/JPY failed to break through 200.26 resistance and retreated sharply. But downside is contained above 197.93 support. Intraday bias remains neutral and further rise is still in favor. Firm break of 200.26 will confirm resumption of whole rise from 184.35, and that from 180.00. Further rally should then be seen to 100% projection of 180.00 to 199.79 from 184.35 at 204.14. On the downside, however, break of 197.93 support should confirm short term topping, and turn bias to the downside for 195.01 support next.
EUR/USD Daily Outlook - Action Forex
Intraday bias in EUR/USD remains neutral and further rally is in favor as long as 1.1573 support holds. Corrective fall from 1.1829 should have completed with three waves down to 1.1390. On the upside, above 1.1741 will bring retest of 1.1829 high first. Firm break there will resume larger up trend. However, sustained break of 1.1573 will dampen this view, and indicate that corrective pattern from 1.1829 is extending with another falling leg towards 1.1390 again.
Equities, Bonds Slide, Capital Flows to Precious Metals, Oil - Action Forex
September didn’t start on a positive note for global markets. Market sentiment was less than cheery as the US returned from its long weekend, and the selloff in long-maturity bonds in developed markets accelerated. The US 30-year yield flirted with the 5% psychological mark, Japan’s 30-year yield pushed toward multi-decade highs, while the UK’s 30-year gilt yield climbed to levels not seen since 1998. In France, the 30-year yield spiked to 4.5% for the first time since 2009, and the spread between German and French 10-year yields widened beyond 80bp — highlighting mounting concerns around France’s budget standoff, where Bayrou’s budget plans face stiff political resistance.