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In focus today In Denmark, October inflation data is due, with energy and food prices expected to drive up inflation to 1.7% y/y from 1.3% y/y in September. Similarly, Norway’s October inflation figures are released today. We forecast core inflation to have eased to 2.6% y/y, with a slight risk to the upside. We do […]

The post Light Macro Weak Ahead appeared first on Action Forex.

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EURUSD Creates Negative Gap Near 1.0700

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21/10/2024

Weak German PPI Send the Euro Back Down

Market picture The German Producer Price Index fell more than expected, preventing the EURUSD from extending the rebound seen at the end of last week. Producer prices in Europe’s largest economy fell 0.5% in September (-0.2% expected), accelerating the annual decline to 1.4% (-0.8% expected) from 0.8% in the previous month. The negative annual growth […]
26/08/2024

USD/JPY Tops Again and Bears Could Aim For Another Drop

Key Highlights USD/JPY struggled to continue higher above the 150.00 resistance zone. A major bearish trend line is forming with resistance at 145.60 on the 4-hour chart. Oil prices are consolidating losses near the $75.00 level. EUR/USD is showing bullish signs above the 1.1120 level. USD/JPY Technical Analysis The US Dollar started a recovery wave […]
09/07/2024

GBP/USD Strengthens: Analyzing Further Upside Opportunities

Key Highlights GBP/USD climbed higher above the 1.2780 resistance zone. The pair is signaling a strong bullish momentum above 1.2800 on the 4-hour chart. Oil prices corrected lower from the $84.65 zone. Bitcoin is struggling to start a recovery wave above $60,000. GBP/USD Technical Analysis The British Pound formed a base above the 1.2620 level […]