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Markets EMU and UK markets yesterday had to develop their own dynamics with no guidance from the US (markets closed for the Juneteenth holiday). The European Commission activated the ‘excessive deficit procedure’ for 7 member states to rectify persistent budgetary slippage. In a separate study on its website, the ECB also published an in extenso […]

The post Swiss National Bank, Norges Bank and Bank of England Will Decide on Monetary Policy appeared first on Action Forex.

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AUDUSD Extends Sideways Movement

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02/02/2024

AUDCAD Examines Potential Pivot Point

AUDCAD continues to trim gains, reaches key support level Technical picture reflects oversold conditions AUDCAD erased more than half of its October-December upleg to find support around the November 13 low of 0.8755, which overlaps with the 61.8% Fibonacci retracement level of the bullish wave. Both the RSI and the stochastic oscillators hint at oversold conditions, […]
12/12/2023

USD/JPY, GBP/USD, EUR/USD Analysis: European Currencies in Consolidation Phase, Yen Declining

Better-than-expected US labour market data contributed to a sharp rise in the dollar against the yen and commodity currencies. At the same time, the euro and pound fell slightly, while managing to remain above strategic levels. USD/JPY The Japanese currency rose sharply last week as information emerged that the Bank of Japan may soon end […]
10/07/2024

Bitcoin Strives for Recovery: Will It Overcome Major Roadblocks?

Key Highlights Bitcoin price crashed below the $60,000 and $58,500 support levels. BTC is trading below a key bearish trend line with resistance at $60,500 on the 4-hour chart. Ethereum tested the $2,850 support before there was an upside correction. Gold prices started a downside correction from the $2,392 level. Bitcoin Price Technical Analysis Bitcoin […]