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The British Pound jumped 0.25% against the Dollar and 0.33% against the Euro due to the employment data. Although key parameters of the report exceeded market expectations, the overall negative trend remains. In the three months to June, the unemployment rate fell to 4.2%, in sharp contrast to the previous two months (4.4%) and beating […]

The post UK Labour Market Deteriorates Despite Falling Unemployment Rate appeared first on Action Forex.

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19/08/2024

EURUSD Tests 1.1050 Tricky Area

EURUSD flirts with 8-month high again Remains well above the long-term symmetrical triangle 50- and 200-day SMAs ready for bullish cross Momentum oscillators confirm upside move EURUSD has been in a bullish move, especially after the rally above the long-term symmetrical triangle last week. The pair is again battling with the almost eight-month high of 1.1050, with […]
29/07/2024

Gold Bounces Off 50-Day SMA

Gold was retreating from its all-time high But the 50-day SMA prevented further declines Despite latest weakness, oscillators remain neutral-to-positive Gold had been in a strong uptrend since late May, which led to a fresh all-time high of 2,483 on July 17. Although bullion has been experiencing a significant pullback since then, the 50-day simple moving average […]
23/04/2024

UK 100 Index Hits New All-Time Highs But Rally May Be Cooling

UK 100 index reaches 8,000 milestone But further gains may have to wait as uptrend starts to lose steam The UK 100 stock index (cash) closed at a new all-time high of 8,046.44 on Monday and climbed to an intra-day record of 8,077.25 earlier today. But whilst another record close is possible in the near […]