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Market Commentary Markets Last week’s directional moves on key markets were extended yesterday in absence of any guidance coming from eco data or central bankers. Core bond yields fail to recover from the early August setback with daily changes in the US ranging between -1.8 bps (30-yr) and +1.6 bps (2-yr). German yields closed almost […]

The post A Softer Dollar Remains the Way to Go appeared first on Action Forex.

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EURJPY’s Rebound Falters Ahead of 200-SMA

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03/04/2024

GBPUSD Wave Analysis

Sterling reversed from pivotal support level 1.2550 Likely to rise to resistance level 1.2700 Sterling recently reversed up from the pivotal support level 1.2550, which has been reversing the pair from the start of December, as can be seen below. The support level 1.2550 was strengthened by the lower daily Bollinger Band and by the […]
09/08/2024

EUR/GBP : 200DMA So Far Holds Pullback from New Multi-Week High

EURGBP dips further on Friday, extending pullback from new 3 ½ month high (0.8624) posted previous day. Fresh weakness cracked pivotal 200DMA (0.8555), with sustained break here to add to bearish signals, as reversal pattern is forming on daily chart. However, completion of pattern requires violation of pivotal Fibo support at 0.8532 (38.2% of 0.8362/0.8624) […]
03/01/2024

British Pound Starts New Year’s With a Tumble

The British pound is steady on Wednesday after sharp losses a day earlier. In the European session, GBP/USD is trading at 1.2632, up 0.11%. UK Services PMI expected to accelerate UK Services PMI will be released on Thursday. The services sector, which is responsible for most of the economy’s growth, hit a rough patch late […]