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Key Highlights EUR/USD is aiming for a fresh increase above the 1.0930 resistance. A key declining channel is forming with resistance at 1.0925 on the 4-hour chart. GBP/USD is eyeing a recovery wave above the 1.2800 resistance zone. Oil prices are gaining pace for a move above the $77.00 resistance. EUR/USD Technical Analysis The Euro […]

The post EUR/USD Looks Upward: Is A Breakout Imminent? appeared first on Action Forex.

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18/07/2024

USD Selloff Accelerates, ECB Meets

While everyone is speculating on how the ongoing international trade war could worsen if Donald Trump returns to the White House, it was Joe Biden who delivered a blow to the market yesterday as his administration told allies that it’s considering severe restrictions if companies like the Japanese Tokyo Electron and Dutch ASML keep providing […]
21/06/2024

Market Analysis: Gold Price and Crude Oil Price Turn Green

Gold price started a fresh increase above the $2,335 resistance level. Crude oil prices are gaining bullish momentum and might rise toward $82.50. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a decent increase from the $2,300 zone against the US Dollar. A connecting bullish trend line is forming with support […]
10/06/2024

Euro Falls to Four-Week Low: Politicians to Blame

EUR/USD plummeted below 1.0800 and is currently hovering around 1.0796 on Monday morning. This development came amid heightened political tensions in France. President Emmanuel Macron called for early elections on Sunday in the wake of his party’s crushing defeat and Marine Le Pen’s party’s resounding victory in the European Parliament elections. The far-right, which secured […]