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Markets Markets on Friday again took somewhat of a biased reading, both of the developments in the Middle East and the US eco data. The air strikes of the US and the UK against Houthi targets in Yemen (temporarily) propelled Brent oil above $80 p/b. However, the impact on other markets was a bit diffuse. […]

The post EUR/USD Blocked in Tight Sideways Range appeared first on Action Forex.

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05/03/2024

Gold: Not Yet Overheated

Gold is primed for a substantial move, second only to cryptocurrencies in amplitude but lacking their enduring strength. At the end of last week, we saw a swift technical completion of a bullish pattern. Sometimes, gold avoids volatility for weeks, but at certain moments, strong multi-day trends are born, and the movement becomes almost one-sided, […]
06/04/2024

The Weekly Bottom Line: Don’t Bet on June

U.S. Highlights Treasury yields shot higher this week, as expectations for a June rate cut fell. The U.S. economy had another strong month of hiring in March – adding 303k jobs – while the unemployment rate ticked down to 3.8%. Seven voting FOMC members were out speaking this week and the messaging was consistent: policymakers […]
30/08/2024

EURUSD Wave Analysis

EURUSD reversed from long-term resistance level 1.1150 Likely to fall to support level 1.1000 EURUSD currency pair recently reversed down from the major long-term resistance level 1.1150 (which has been reversing the price from the start of 2022). The resistance level 1.1150 was strengthened by the upper weekly Bollinger Band and by the 61.8% Fibonacci […]