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EURGBP edges higher after weaker UK CPI Path higher filled with strong resistance points Momentum indicators are mostly bullish EURGBP is trading higher today after the downside surprise registered by the UK inflation report. The 0.8635 level was easily surpassed with the EURGBP bulls now preparing to test the resistance set by the 0.8657-0.8720 area. […]

The post Could EURGBP Bulls Keep the Rebound Alive? appeared first on Action Forex.

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13/06/2024

Dollar Pared Some of Sharp Losses in Wake of Fed

Markets The Fed kept the policy rate unchanged at 5.25-5.5% yesterday. The expected decision was accompanied by a statement that mentioned “modest” further progress towards the 2% inflation objective instead of the “lack” of it in the May edition. It’s the only change and feels like a post-CPI addition. The dot plot entailed bigger changes […]
20/03/2024

EUR/USD Dips Again, USD/JPY Rallies Above 151

EUR/USD started another decline from the 1.0960 resistance. USD/JPY surged and broke the 151.00 resistance zone. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline below the 1.0900 support zone. There is a key bearish trend line forming with resistance at 1.0870 on the hourly chart of EUR/USD at FXOpen. […]
11/12/2023

GBPCHF Wave Analysis

GBPCHF reversed from support level 1.1000 Likely to rise to resistance level 1.1125 GBPCHF recently reversed up from the round support level 1.1000, lower boundary of the sideways price range inside which the pair has been trading from the start of November. The support level 1.1000 was strengthened by the lower daily Bollinger Band and […]