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The Euro remains firmly in red and holding near last week’s low at 1.0725, following a sharp fall on Wednesday (the pair was down 1%). Higher than expected US inflation in March, cooled market expectations for Fed’s first rate cut in June and provided strong boost to US dollar, deflating its major counterparts. Market focus […]

The post EUR/USD: Bears Taking a Breather Ahead of ECB Policy Decision appeared first on Action Forex.

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05/01/2024

USDCAD Marks Bullish Wave in Short-Term

USDCAD meets 20-day SMA Technical signals mixed; downtrend well intact USDCAD has been rising since the end of 2023 after the bounce off the 1.3175 support level and is currently reaching the short-term 20-day simple moving average (SMA) near 1.3373, but is still developing beneath the descending trend line. The MACD and the RSI are […]
26/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Currency Index) chart is currently displaying a bearish overall momentum, indicating weakness in the US Dollar. According to your analysis, there is potential for a bearish continuation in the price towards the 1st support level. The 1st support level at 103.00 is considered significant for several reasons. It represents an […]
01/04/2024

XAU/USD: Gold Hits New Record High on Growing Hopes for Fed Rate Cut in June

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