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Markets Friday’s bearish engulfing pattern at record levels for the S&P 500 and Nasdaq (potential short term trend reversal) met with some more weakness in futures trading and at the opening bell, but follow-up losses remained contained to 0.11% and 0.41% respectively as some investors are still looking to buy into every minor dip. Adding […]

The post Sterling Loses Ground on Just-Below Consensus Labour Market Data appeared first on Action Forex.

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10/07/2024

GBPUSD Wave Analysis

GBPUSD reversed from the long-term resistance level 1.2850 Likely to fall to support level 1.2725 GBPUSD currency pair is under bearish pressure after the earlier downward reversal from the long-term resistance level 1.2850, which has been reversing the price from the start of March. The downward reversal from the resistance level 1.2850 created the daily […]
18/07/2024

EUR/USD Outlook: Dips from New High Following ECB Decision

EURUSD eases further from new multi-week high (1.0948) as markets digested ECB’s decision to stay on hold and repeat its mantra that future action will be dependent on incoming economic data. On the other hand, confidence that the ECB will deliver two more rate cuts by the end of the year continues to strengthen among […]
03/07/2024

AUD/USD Range-Bound: What Could Spark Fresh Increase?

Key Highlights AUD/USD is trading in a range below the 0.6700 resistance. A key rising channel is forming with support at 0.6625 on the 4-hour chart. Oil prices extended gains and approached the $85.00 resistance. The US ISM Manufacturing Index could remain below 50.0 at 49.0 in June 2024. AUD/USD Technical Analysis The Aussie Dollar […]