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USD/JPY Daily Outlook - Action Forex
Intraday bias in USD/JPY remains neutral for the moment. Sustained trading below 55 D EMA (now at 154.73) will extend the correction from 158.86 to 38.2% retracement of 139.57 to 158.86 at 151.49 next. However, firm break of 158.86 will resume the whole rally from 139.67 to retest 161.94 high.
GBP/USD Daily Outlook - Action Forex
GBP/USD is still extending consolidation pattern from 1.2099 and intraday bias remains neutral. Further decline is expected with 1.2486 support turned resistance intact. On the downside, break of 1.2099 will resume the fall from 1.3433 to 100% projection of 1.3433 to 1.2486 from 1.2810 at 1.1863.
NZDCHF Price Action Breakdown - Action Forex
By now, I've written so many references to the SBR (Sweep-break-Retest) pattern that any avid reader of my work must be familiar with the pattern already. The SBR pattern shown on the 4-hour timeframe chart of NZDCHF begins with the sweep above the previous high, followed by the immediate break below the previous low. Based on this, the supply zone at the origin of the bearish impulse serves as the supply zone of interest. In addition, the Fibonacci retracement tool places the supply zone near the 88% level, further increasing the likelihood of a reaction from the highlighted supply area.
Gold surges on Dollar weakness, Silver lags - Action Forex
Gold prices surged past 2750 mark this week, supported largely by a weaker Dollar. The overall market sentiment is on a relatively calmer backdrop, with US President Donald Trump’s decision to delay tariff implementations contributed to easing trade-related fears. Additionally, geopolitical tensions receded as a ceasefire between Israel and Hamas took hold earlier in the week.
USD/CAD Daily Outlook - Action Forex
Range trading continues in USD/CAD and intraday bias remains neutral. Further rise is expected as long as 1.4260 support holds. Break of 1.4516 will resume larger up trend to 1.4667/89 key resistance zone. Nevertheless, firm break of 1.4260 will turn bias to the downside for deeper pullback to 55 D EMA (now at 1.4205) and below.
Dollar Range Trading Awaits Trump's Directives - Action Forex
Following Donald Trump's inauguration, the dollar lost part of this month’s gains on Monday and adjusted to significant support levels. However, there is no clear development of a full-scale downward correction as yet. Most currency pairs remain within their previous sideways corridors, awaiting new directives from the newly inaugurated president.
Markets Eye Tariffs on the Horizon - Action Forex
Markets remain closely focused on President Trump's actions during this first week of his presidency. He is expected to issue several executive orders building on his current momentum, leading to US news continuing to dominate the headlines as markets and world leaders alike are left navigating the implications.
Tech Soap Opera - Action Forex
US equities were boosted by strong earnings and Trump’s AI push. Technology stocks led the rally, this time, and pushed Nasdaq 100 1.33% higher, the S&P500 hit a fresh intraday record high while gains in the Dow Jones were significantly lower. The index gained only 0.30% on Wednesday. Among the tech names, Netflix jumped around 10% on the back of strong earnings and traded at $999 a share – just short of the $1000 psychological mark. It’s probably a matter of time before Netflix claims the $1000 level provided that the company’s recent gains were driven by the strategic move to stream live events and has potential to fuel organic growth. Other than that, Nvidia, Oracle and OpenAI investor Microsoft – the names of the companies that are cited in the so-called Stargate project – gained. Nvidia extended gains by almost 4.5%, Microsoft gained more than 4% while Oracle jumped up to 10% but gave back a part of these gains to end the day with an almost 7% gain.
GBP/USD Mid-Day Outlook - Action Forex
Intraday bias in GBP/USD remains neutral as consolidation from 1.2099 is still extending. Further decline is expected with 1.2486 support turned resistance intact. On the downside, break of 1.2099 will resume the fall from 1.3433 to 100% projection of 1.3433 to 1.2486 from 1.2810 at 1.1863.
Dollar Softness Continues as Forex Markets Tread Calm Waters - Action Forex
The forex markets remain unusually quiet today, with Dollar staying soft despite multiple attempts to rebound. The greenback has only managed meaningful gains against the weaker Yen and the struggling Canadian Dollar, while failing to build momentum against other major currencies. With little in the way of significant economic data on the calendar today, trading is expected to remain subdued. However, volatility could resurface, probably just temporarily, later in the week, with BoJ’s anticipated rate hike and key PMI releases from major economies slated for Friday.
EUR/USD Mid-Day Outlook - Action Forex
EUR/USD is still struggling to take out 1.0435 resistance decisively and intraday bias stays neutral. Firm break there will extend the rebound from 1.0176 to 38.2% retracement of 1.1213 to 1.0176 at 1.0572. Rejection by 1.0435 will keep the correction from 1.0176 relatively short. Firm break of 1.0176 will resume whole fall from 1.1213.
USD/CHF Daily Outlook - Action Forex
USD/CHF is still bounded in consolidation from 0.9200 and intraday bias stays neutral. Further rally is expected with 0.9007 support intact. On the upside, decisive break of 0.9223 will carry larger bullish implications. However, break of 0.9007 will turn bias back to the downside for deeper pull back to 55 D EMA (now at 0.8950).
EURGBP Price Action Breakdown - Action Forex
EURGBP on the daily timeframe chart has just bounced off the pivot area right after a liquidity sweep from the previous high. However, this is not expressly clear enough to build a proper sentiment, hence the need for a lower timeframe POV of the price action.
AUD/USD Daily Report - Action Forex
No change in AUD/USD's outlook and intraday bias remains neutral. Further decline is expected with 0.6301 resistance intact. Firm break of 0.6130 will resume the fall from 0.6941. However, sustained break of 0.6310 will turn bias back to the upside for stronger rebound to 55 D EMA (now at 0.6352), and possibly above.
EUR/AUD Daily Outlook - Action Forex
Intraday bias in EUR/AUD remains neutral as consolidations continue below 1.6800. Strong support is still expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.
ECB’s Knot supports near-term rate cuts, not convinced of of stimulus mode - Action Forex
Dutch ECB Governing Council member Klaas Knot expressed agreement with market expectations for rate cuts at the January and March meetings, saying he is “pretty comfortable” with them. However, he added it is "too early to comment" on further cuts beyond March.
Amazing Netflix - Action Forex
Netflix blew past the market expectations last quarter and closed the year on a very high note. The company added 18.9 mio new subscribers last quarter – its biggest ever quarterly jump in subscriptions. The company added more than 41 mio subscribers over the year and has now more than 300 mio subscribers around the world. And it’s not even due to a pandemic or a temporary situation (like the Squid Game peak). It’s because their strategic bet of streaming major live sport events is paying off and hints at a further upside potential. Even more so as the company is planning to raise the price of its services in the US, Canada, Portugal, and Argentina between $1-1.5 depending on the plan which could bring up to $1bn additional revenue to the company. No wonder the company raised its revenue outlook for this year to between $43.5 and $44.5bn. The share price jumped more than 14% in the afterhours trading and will claim the $1000 psychological level, defying yesterday’s shooting star pattern.
EUR/JPY Daily Outlook - Action Forex
Intraday bias in EUR/JPY remains neutral as recovery from 159.74 is still capped below 162.88 resistance. Further fall is in favor and break of 159.74 will resume the decline from 164.89 to 156.16 support. On the upside, however, break of 162.88 will bring retest of 164.89 instead.
USD/CHF Daily Outlook - Action Forex
Intraday bias in USD/CHF remains neutral and outlook is unchanged. Intraday bias stays neutral for consolidations below 0.9200. Further rally is expected with 0.9007 support intact. On the upside, decisive break of 0.9223 will carry larger bullish implications. However, break of 0.9007 will turn bias back to the downside for deeper pull back to 55 D EMA (now at 0.8950).
GBP/USD Daily Outlook - Action Forex
GBP/USD is staying in consolations above 1.2099 and intraday bias stays neutral. Further decline is expected with 1.2486 support turned resistance intact. On the downside, break of 1.2099 will resume the fall from 1.3433 to 100% projection of 1.3433 to 1.2486 from 1.2810 at 1.1863.
New Zealand CPI unchanged at 2.2% yoy, non-tradeable pressures persist - Action Forex
New Zealand’s CPI rose 0.5% qoq in Q4 2024, in line with expectations, as tradeable inflation increased 0.3% qoq and non-tradeable inflation rose 0.7% qoq. Annually, CPI was unchanged at 2.2% yoy, slightly exceeding the anticipated 2.1% yoy. This marks the second consecutive quarter that inflation has stayed within RBNZ's target range of 1% to 3%.
USD/CAD Daily Outlook - Action Forex
Intraday bias in USD/CAD remains neutral as range trading continues. Further rise is expected as long as 1.4260 support holds. Break of 1.4516 will resume larger up trend to 1.4667/89 key resistance zone. Nevertheless, firm break of 1.4260 will turn bias to the downside for deeper pullback to 55 D EMA (now at 1.4203) and below.
EUR/USD Daily Outlook - Action Forex
Immediate focus in on 1.0435 resistance in EUR/USD's rebound from 1.0176 extends. Firm break there will extend the rise to 38.2% retracement of 1.1213 to 1.0176 at 1.0572. Rejection by 1.0435 will keep the correction from 1.0176 relatively short. Firm break of 1.0176 will resume whole fall from 1.1213.
First Impressions: NZ Consumers Price Index, December quarter 2024 - Action Forex
Overall inflation is close to 2%, and both core and domestic inflation are easing. In addition, economic activity was softer than expected through the latter part of last year. Against that backdrop, we expect that the RBNZ will deliver another 50bp cut when they next meet in February.
Australia’s Westpac Leading Index falls to 0.25%, signals gradual growth pickup - Action Forex
Westpac Leading Index for Australia dipped slightly in December, moving from 0.33% to 0.25%. Westpac noted that while the growth signal remains modest, it reflects a marked improvement from the consistently negative and below-trend readings observed over the past two years. This uptick hints at a gradual lift in economic momentum through the first half of 2025.
USD/JPY Daily Outlook - Action Forex
Intraday bias in USD/JPY is turned neutral on loss of momentum, as seen in 4H MACD. But risk will stay on the downside as long as 158.86 short term top holds. Sustained trading below 55 D EMA (now at 154.64) will extend the fall from 158.86 to 38.2% retracement of 139.57 to 158.86 at 151.49 next.
Initial Responses to the First Moves of President Trump - Action Forex
Markets remain closely focused on President Trump's actions during this first week of his presidency. He is anticipated to issue several executive orders building on his current momentum, leading to US news continuing to dominate the headlines as markets and world leaders alike are left navigating the implications.
Downside in Dollar Limited Short-Term - Action Forex
In the current context of persistent uncertainty, at least intentionally orchestrated by the Trump administration, we expect the downside in the dollar to be limited short-term. The rebound of the USD/CNY this morning after the threat of a 10% tariff on China imports next month (USD/CNY 7.2815) serves as a case in point.
AUD/USD Daily Report - Action Forex
Intraday bias in AUD/USD stays neutral for the moment. With 0.6301 resistance intact, consolidations from 0.6130 should be relatively brief, and further decline is expected. Break of 0.6130 will resume the fall from 0.6941. However, firm break of 0.6310 will turn bias back to the upside for stronger rebound to 55 D EMA (now at 0.6352), and possibly above.
Kiwi Eases as NZ CPI Backs RBNZ 50bps Cut, Dollar Unmoved by Trump's Continuous Tariff Talks - Action Forex
New Zealand Dollar softened mildly today as Q4 inflation data reinforced the case for continued monetary easing by RBNZ. The central bank has ample room to swiftly bring interest rate from the current 4.25% to neutral, with inflation staying at around mid-point of 1-3% target range for the second straight quarter.
EUR/CHF Daily Outlook - Action Forex
Intraday bias in EUR/CHF remains mildly on the upside at this point. While further rally would be seen, strong resistance is expected from 0.9481 fibonacci level to complete the corrective rebound from 0.9204. On the downside, below 0.9365 minor support will turn bias to the downside for 0.9336 support first. Firm break of 0.9336 will argue that the correction has completed.
ECB’s Vujcic sees market pricing of rate cuts as “reasonable” - Action Forex
Croatian ECB Governing Council member Boris Vujcic commented on market expectations for rate cuts during a webinar today, noting that the recent repricing from four to five cuts this year to three to four cuts seems “reasonable.”