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Brent prices have been rising for three consecutive days as of this Monday. The price of a Brent barrel has climbed to 79.00 USD, and there are underlying reasons for this surge. The focal point of attention is the unfolding events in the Red Sea, where the situation is challenging. This holds significant importance for […]

The post Brent Crude Oil Experiences Upward Trend appeared first on Action Forex.

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Euro Drifting Ahead of German CPI

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Technical Outlook and Review

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14/06/2024

EURUSD in a Dramatic Downfall

EURUSD corrects sharply down to 1½-month low; gives up previous gains Technical signals remain bearish; support expected near 1.0650-1.0660 EURUSD continued to sink for the second consecutive day on Friday, reversing entirely its post-US CPI upturn and trimming a significant portion of its April-June uptrend to trade at a 1½-month low of 1.0670. The sharp […]
03/04/2024

All Eyes on Euro Area Inflation

In focus today In the US, March ADP private sector employment and ISM Services are due for release. Yesterday’s labour market data supported the notion of labour markets gradually becoming more balanced. Hence, it will be interesting to see if today’s data corroborates this view. In the euro area, today’s focus is on euro area […]
09/09/2024

EUR/CHF: Another Potential Downleg May Intensify After Weak China Inflation

EUR/CHF has continued to exhibit a high direct correlation with France CAC and Germany DAX. China’s core inflation and producer prices for August have indicated a persistent trend of lackluster internal demand. Sluggish China’s consumer demand may hurt the profits of key European makers of luxury goods, cars, and machinery. Watch the key intermediate support […]