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Markets Second tier US economic data outgunned yesterday’s ECB meeting. Strong retail sales, lower-than-expected weekly jobless claims and a sharp rebound in the Philly Fed business outlook sparked a test of the 4% barrier by the US 2-yr yield (+3.3 bps in the close) but it’ll take more for this psychologically important level to break. […]

The post Consensus-Beating UK Retail Sales Triggers a EUR/GBP Break Lower appeared first on Action Forex.

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06/09/2024

The Data that Could Tip Fed’s Hand

Risk appetite got another hit yesterday after the US ADP report printed a weaker-than-expected number. The data suggested that the US economy added only 99K new private jobs last month, significantly less than 144K pencilled in by analysts, and lower than last month as well, even after the downside revision of last month’s figure to […]
18/07/2024

GBPJPY Wave Analysis

GBPJPY reversed from the resistance area Likely to fall to support level 201.65 GBPJPY currency pair continues to fall after the price reversed down from the resistance area located between the upper trendline of the weekly up channel from last year and the upper weekly Bollinger Band. The downward reversal from this resistance area created […]
08/03/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently maintains its bullish momentum, indicating a potential scenario of a bullish bounce off the pivot and a subsequent move towards the 1st resistance. The pivot level at 102.63 serves as an overlap support, suggesting historical significance as a level where buying interest has previously emerged to support […]