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EURGBP drops to the lowest level since August 2022 Political unrest and weaker economic data keep the euro under pressure Momentum indicators could point to a reversal soon EURGBP is hovering around the lowest level since August 2022, having recorded a decent correction from the early July local peak. The newfound political stability in the […]

The post EURGBP Trades to a New 2024 Low appeared first on Action Forex.

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24/04/2024

Dollar Pullback from Overbought Territory Boosts Appeal

The US dollar’s gains stalled last week, and on Tuesday, it lost a third of a cent against a basket of major currencies to 105.4 from a peak of 106.3 the week before. Yesterday’s pullback more closely resembles the start of broader profit-taking than a reversal of the dollar’s upward trend since early March. The […]
28/07/2024

Forex and Cryptocurrency Forecast

EUR/USD: Europe is Not Doing Very Well, the US is Not Doing Very Badly The main events in the currency market will unfold in the upcoming week, with meetings scheduled for Wednesday, 31 July, when the Bank of Japan and the Federal Reserve’s FOMC (Federal Open Market Committee) will convene, followed by the Bank of […]
31/01/2024

Nonfarm Payrolls to Decide Dollar’s Fortunes

US employment data will hit the markets on Friday at 13:30 GMT Another solid jobs report expected, supported by early indicators If so, dollar could receive a boost as investors unwind rate cut bets Dollar shines in early 2024 It’s been a phenomenal start to 2024 for the US dollar, which has already risen more […]