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We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.00% on 19 September in line with consensus and market pricing. Overall, we expect the BoE to stick to a cautious language and deliver a dovish twist to its communication. We expect the reaction in EUR/GBP to be rather muted with […]

The post Bank of England Preview – Proceeding With Caution appeared first on Action Forex.

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07/12/2023

Nasdaq 100 Technical: Impending Corrective Decline Within Major Uptrend

Medium-term breadth condition (% of Nasdaq 100 stocks above 50-day MA) has reached an overbought condition that led to significant corrective declines in past occasions on 16 August 2022, 1 December 2022, and 19 July 2023. Broke below the 20-day moving average. Watch the 15,690 near-term support as a potential downside trigger. The price actions […]
27/05/2024

Sunset Market Commentary

Markets Bank of France governor and ECB governing council member Villeroy leveraged low volume trading conditions (UK & US markets are closed) to get maximum market impact with some dovish comments. So far, ECB members generally didn’t pre-commit on the H2 2024 ECB policy rate path after the done deal 25 bps June rate cut. […]
17/04/2024

Getting Ready for a Decline in Gold

Gold has been behaving erratically, having had a positive and negative correlation with global risk appetite in recent days. On Friday, the price set an all-time high above $2430, losing $100 before the end of that day, nullifying the most furious final part of the rally within four hours. The final sell-off was in unison […]