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Key Highlights EUR/USD is moving lower below the 1.0820 support. A key bearish trend line is forming with resistance near 1.0875 on the 4-hour chart. GBP/USD is gaining bearish momentum below the 1.2650 support. The US ISM Services PMI could increase from 50.6 to 52.0 in Jan 2023. EUR/USD Technical Analysis The Euro struggled to […]

The post EUR/USD Turns Bearish And Might Accelerate Lower appeared first on Action Forex.

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26/08/2024

Sunset Market Commentary

Markets The dust settled somewhat after Fed chair Powell’s “the time has come” speech in Jackson Hole prompted an almost 9 bps decline in US yields last Friday. The front end of the curve outperformed, drawing comfort from Powell implicitly leaving all options open, including supersized (eg. 50 bps) rate reductions in September or later. […]
29/11/2023

EURUSD Wave Analysis

EURUSD broke resistance level 1.0950 Likely to rise to resistance level 1.1065 EURUSD currency pair recently broke the key resistance level 1.0950, intersecting with the 61.8% Fibonacci correction of the downward impulse from July. The breakout of the resistance level 1.0950 should further increase the bullish pressure on this currency pair. Given the continuation of […]
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CADJPY Wave Analysis

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