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EURUSD holds in trading range in weekly chart 50-week SMA acts as strong support RSI and stochastic suggest more losses As the year is coming to an end, EURUSD’s market price is holding slightly higher than at the beginning of 2023. The pair is consolidating within a consolidation area with upper boundary the 200-week simple […]

The post EURUSD Fails to Surprise During 2023 appeared first on Action Forex.

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12/07/2024

EUR/USD Outlook: Bulls Hold Grip for Further Advance

EURUSD continues to trend higher, with minimal negative impact from hotter than expected US PPI data (Jun 0.2% m/m vs 0.1% f/c and 0.0% in May). The latest bull-leg extends into third straight and day pressuring Thursday’s post US CPI spike high (1.0898) which guards pivotal barriers at 1.0919 (Jun 4), 1.0981 (Mar 8) and […]
04/12/2023

Sunset Market Commentary

Markets Gold grabbed most headlines today. The price of bullion spiked to an all-time high in illiquid Asian dealings of $2130/ounce. The spike didn’t last with gold prices falling back towards Friday’s closing levels near $2060/ounce. The move smells like an exhaustion move after the October/November core bond rally pushed gold prices up by around […]
15/02/2024

XAUUSD: What To Expect Now

Following the CPI data release on Tuesday, the price of Gold dropped from its recent high at $2,000 all the way through to the $1980 region where it is currently sitting. As we anticipate what could be next for the yellow metal ahead of the Retails sales data release from the US. In the meantime, […]