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EURUSD was sharply down on Monday morning after weaker than expected German and French PMI’s (German manufacturing PMI at 40.3 warns of recession) soured sentiment. Fresh weakness adds to reversal signals from recent repeated strong upside rejections on approach to pivotal 1.1200 barrier (Aug 26 high / round-figure). Bears cracked lower pivots at 1.1100 zone […]

The post EUR/USD Outlook: Weak Data Deflate Euro But Larger Bulls Remain in Play appeared first on Action Forex.

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29/11/2023

RBNZ Review: Talking Tough and Maybe Doing Something

The OCR remained at 5.5% as Westpac and the market had expected. The RBNZ’s projections for the OCR were revised 10bp higher to a peak of 5.69% in September 2024, implying around a 75% chance of a further 25bp rate hike. The projections imply a gradual easing of policy from the first half of 2025. […]
07/02/2024

XBRUSD: Corrects Towards Supply Zone With Expected Further Downside Towards 75.70

Bearish Scenario: Sales below 78.99 with TP1: 77.93, TP2: 77.45, and upon its breakout TP3: 76.56 and TP4: 75.70. It is recommended to place a stop loss above 79.50, at least 1% of the account capital**. A trailing stop can be used. Bullish Scenario: Purchases above 78.00 (wait for a pullback to this area) with […]
25/05/2024

Weekly Economic & Financial Commentary: Higher for Longer Mantra on Repeat in Week Replete with Fed Speak

Summary United States: High Mortgage Rates Burden Homebuyers Homebuying retreated in April following a leg up in mortgage rates. Meanwhile, durable goods orders surprised to the upside, suggesting the manufacturing industry is on better footing. Next week: Consumer Confidence (Tue.), Personal Income & Spending (Fri.) International: Foreign Economies Show Mixed Inflation Trends amid Ongoing Economic […]