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EURUSD found a footstep and firmed on Monday after 0.9% drop last Friday, following a double failure at psychological 1.10 barrier. However, recovery is unlikely to extend much as near-term action is weighed by much weaker-than-expected German Ifo data and rising bearish momentum on daily chart. Also, long upper shadow on last week’s candlestick and […]

The post EUR/USD: Regains Traction But Recovery Faces Strong Headwinds appeared first on Action Forex.

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05/01/2024

It’s Payrolls Day

In focus today The first week of January will be concluded with the December Jobs Report at 14:30 CET, and ISM services index at 16:00 CET. Recent data (Claims/ADP/JOLTs) has generally supported the narrative of robust US labour market conditions in December, and we forecast non-farm payrolls at +170k and average hourly earnings growth at […]
16/09/2024

GBPUSD Elliott Wave: Buying the Dips at the Blue Box Area

In this technical article we’re going to take a quick look at the Elliott Wave charts of GBPUSD Forex Pair , published in members area of the website. As our members know, GBPUSD has recently given us correction against the 1.2664 low. The pair reached our target zone and completed correction right at the Equal […]
11/04/2024

ECB Meets Today But the Decision Itself (Status Quo) Won’t Be Surprising

Markets Above-consensus CPI, driven by low 2023 base effects and far more important by (very) strong current price dynamics, sent shockwaves through the bond market yesterday. Ongoing economic resilience and a more than healthy labour market combined with sticky price pressures (January and February were NOT a blip) raise serious questions to the Fed’s ability […]