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BoE stuck between strong US data and the ECB rate cut Labour market data could support August rate cut expectations All eyes on average earnings growth Could the pound maintain its recent gains? BoE remains on the sidelines While the ECB announced its first rate cut since 2019 and the Fed is preparing for Wednesday’s […]

The post BoE Stays Quiet But Data Could Speak Volumes appeared first on Action Forex.

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Instrument of the Week (June 10—14): GBPJPY Insight

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04/12/2023

Bitcoin Surpasses $40,000 Per Coin

December begins extremely optimistically for the cryptocurrency market, resembling: → December 2020, when bitcoin grew by 46.9%; → December 2017, when bitcoin grew by 38.9%; → December 2016, when bitcoin grew by 30.8%. If there are psychological patterns in the increase in demand on the eve of the holidays, then perhaps they come into force, […]
23/05/2024

Crude Oil Price Stuck In Range, Can Bulls Initiate Rebound?

Key Highlights Crude oil prices settled below the $80.00 level with a bearish angle. A connecting bearish trend line is forming with resistance at $79.20 on the 4-hour chart. Gold prices corrected lower from the $2,450 resistance. EUR/USD also declined after it failed to clear 1.0885. Crude Oil Price Technical Analysis In the past few […]
04/01/2024

USDCAD Wave Analysis

USDCAD reversed from key support level 1.3200 Likely to rise to resistance level 1.3400 USDCAD currency pair recently reversed up from the key support level 1.3200 (which reversed the price multiples times in the middle of 2023, as can be seen below). The support level 1.3200 was further strengthened by the lower daily Bollinger Band […]