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Key Highlights EUR/USD started another decline and traded below the 1.0500 support. A major bearish trend line is forming with resistance at 1.0485 on the 4-hour chart. Bitcoin rallied further and traded close to the $100,000 milestone level. GBP/USD dipped further and tested the 1.2500 support zone. EUR/USD Technical Analysis The Euro started yet another […]

The post EUR/USD Freefalls: Are There Signs of a Rebound? appeared first on Action Forex.

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28/06/2024

What Can We Expect from ISM Business PMIs Next Week?

ISM manufacturing PMI to tick higher; services PMI to lose some pace Business outlook could stay unchanged; rate cut forecasts will remain inflation-driven EURUSD stays neutral after core PCE inflation; needs a strong rebound above 1.0885 What happened previously? Dollar traders will pay close attention to the US ISM manufacturing and non-manufacturing PMI readings for […]
22/06/2024

The Weekly Bottom Line: A Grand Slam of Economic Data

U.S. Highlights U.S. retail sales grew marginally in May, however the downward revision in April points to waning momentum among U.S. consumers. Housing starts and building permits both declined in May as higher interest rates weigh on builder confidence. U.S. existing home sales dipped for a third consecutive month as record home prices stretch buyers’ […]
16/12/2024

Gold Faces Rejection Near $2,720

Gold falls below $2,700 after double top Maintains neutrality within $2,540-$2,720 Gold came under renewed selling pressure after the bulls ran out of fuel marginally above the previous lower high of $2,721, unable to initiate a clear bullish reversal. Volatility was low during Monday’s early European trading hours, with the price being squeezed between the 20-day […]