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Key Highlights EUR/USD is holding the key 1.0880 support zone. A key rising channel is forming with support at 1.0935 on the 4-hour chart. GBP/USD is consolidating gains near the 1.2750 level. Gold prices could gain pace if it clears the $2,060 resistance level. EUR/USD Technical Analysis The Euro started a fresh decline from the […]

The post EUR/USD Could Recover Unless This Level Gives Way appeared first on Action Forex.

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25/01/2024

Hang Seng Index Technical: Countertrend Rebound in Play But Not Major Bottoming

Short-term positive animal spirits have resurfaced in China and Hong Kong stock markets stoked by additional liquidity injection from PBoC and the creation of a “stabilization fund”. Long-term prospects are still dim as a liquidity trap scenario cannot be ruled out in the real economy due to weak consumer and business sentiment. Watch the next […]
04/06/2024

Japanese Yen Strengthens Unexpectedly Against US Dollar

The USD/JPY pair unexpectedly declined last night due to a weakening US dollar. Currently, it is hovering around 156.33. Japanese Finance Minister Shunichi Suzuki highlighted the government’s recent interventions to support the yen, significantly impacting the market. Official data reveals that throughout April, Japan spent approximately 9.79 trillion yen (62.2 billion USD) on efforts to […]
20/05/2024

Gold Hits New Record High

On Monday, a troy ounce of gold set a new price peak of 3438.00 USD. This surge was fuelled by renewed speculation about potential interest rate cuts by the US Federal Reserve, vigorous gold purchases by banks globally, and strong investor demand for safe-haven assets. Recent statistics indicating a slowdown in consumer inflation in the […]