Euro Suffers When ECB Announces the First Rate Cut of the Cycle

Key Highlights USD/JPY started a fresh increase above the 156.00 resistance. It broke a major contracting triangle with resistance at 156.10 on the 4-hour chart. Gold price declined heavily and moved in the red zone below $2,380. Oil prices are still struggling to recover above the $80.00 resistance. USD/JPY Technical Analysis The US Dollar formed […]

Markets The ECB kept its key policy rates unchanged today in an unanimous decision. In its policy statement, the central bank repeats that it doesn’t pre-commit to a particular rate path. They follow a meeting-by-meeting and data-dependent approach to determining the appropriate level and duration of restriction. Unlike at the April meeting, there’s no clear […]

GBPNZD broke key support level 2.0290 Likely to fall to support level 2.0000 GBPNZD currency pair recently broke the key support level 2.0290 (which has been reversing the price from the middle of June). The breakout of the support level 2.0290 coincided with the breakout of the 50% Fibonacci correction of the upward impulse from […]