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EURUSD continues the sell-off Immediate support at medium-term uptrend line Stochastic edges lower in oversold area EURUSD is experiencing more losses a few hours ahead of the ECB interest rate decision, sending the market beneath the 200-day simple moving average (SMA) and the 1.0870 resistance. Technically, the stochastic oscillator is extending its negative momentum in […]

The post EURUSD Dives Beneath Significant Levels, Losing 3% appeared first on Action Forex.

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EUR/USD: Holds Near Multi-Week Low Ahead of ECB’s Widely Expected 0.25% Rate Cut

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14/03/2024

In Wage Growth the BoJ Hopes

The spring wage decision will reflect cyclical factors rather than a structural shift leaving little reason for the BoJ to consider contractionary action. The Bank of Japan and financial markets are eagerly awaiting the Shunto wage decision for Japan’s largest trade confederation RENGO, which is due in. In our view, the result will likely be […]
18/03/2024

USD/JPY in Holding Pattern Ahead of Key BoJ Meeting

The Japanese yen is showing limited movement to start off the week. In the European session, USD/JPY is trading is almost unchanged at 149.07. Will the BoJ raise rates on Tuesday? The Bank of Japan will make its rate announcement on Tuesday and there is a strong possibility that the BoJ will lift interest rates […]
04/04/2024

Euro, Sterling Bears Bulldozed by Fed Doves

Federal Reserve (Fed) Chair Jerome Powell reiterated yesterday that the Fed is not in a rush to cut rates but that it will cut sometime this year and that the recent jump in inflation didn’t ‘materially’ change their policy outlook. The latter was enough to send the market higher with joy. On the data front […]