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Key Highlights EUR/USD is struggling to start a recovery wave above 1.0920. A major bearish trend line is forming with resistance near 1.0900 on the 4-hour chart. GBP/USD is struggling to recover above the 1.2760 resistance zone. Crude oil prices climbed higher above the $76.50 resistance. EUR/USD Technical Analysis The Euro attempted a minor increase […]

The post EUR/USD At Risk of Fresh Lows Below 1.0800 appeared first on Action Forex.

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10/06/2024

Euro Falls to Four-Week Low: Politicians to Blame

EUR/USD plummeted below 1.0800 and is currently hovering around 1.0796 on Monday morning. This development came amid heightened political tensions in France. President Emmanuel Macron called for early elections on Sunday in the wake of his party’s crushing defeat and Marine Le Pen’s party’s resounding victory in the European Parliament elections. The far-right, which secured […]
01/08/2024

Confidence Grows Amongst FOMC Members

The scene is set for a September first cut by the FOMC. The underlying inflation trend warrants a series of cuts at a measured pace to a 3.375% terminal by mid-2026. At the July meeting, the FOMC kept rates steady but stated that the economy is moving closer to the point at which it will […]
20/04/2024

The Weekly Bottom Line: Dialing Back Expectations

U.S. Highlights U.S. headline retail sales beat expectations in March, advancing for a second consecutive month. The strong showing bolstered the case for a delayed start to the Fed’s interest rate cutting cycle. Comments from senior Federal Reserve officials has the timing of possible interest rate cuts in question amid signs of persistent strength in […]