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ECB meets on Thursday; markets expect a 25bps rate cut Lots of reasons for a pause, including the lack of staff projections But the ECB might choose to avoid disappointing the markets The euro could really benefit from a rate pause  ECB meets on Thursday The ECB will hold its penultimate meeting for 2024 on […]

The post ECB to Cut Rates Despite Plethora of Reasons for a Pause appeared first on Action Forex.

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01/08/2024

GBP/USD Eyes Rebound: Can It Regain Strength?

Key Highlights GBP/USD declined steadily before the bulls appeared at 1.2800. It cleared a connecting bearish trend line with resistance at 1.2840 on the 4-hour chart. Gold started a fresh increase and surpassed the $2,400 resistance. EUR/USD remained stable above the 1.0800 pivot zone. GBP/USD Technical Analysis The British Pound started a downside correction from […]
27/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish continuation towards the 1st support. The 1st support level at 101.46 is identified as an overlap support. Further below, the 2nd support level at 100.67 is noted as a swing-low support that aligns […]
19/06/2024

Gold Eyes Higher Ground: Aiming for Upside Break

Key Highlights Gold seems to be forming a base above the $2,285 level. A key contracting triangle is forming with resistance at $2,332 on the 4-hour chart. EUR/USD is recovering higher toward the 1.0780 resistance. Oil prices gained bullish momentum above the $80.00 resistance. Gold Price Technical Analysis Gold prices remained well-bid above the $2,280 […]