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The dollar index falls to five-week low on Thursday, remaining under increased pressure from growing expectations for June rate cuts. Fed Chair Powell added to expectations by relatively dovish remarks in his testimony on Wednesday, saying that rate cuts will likely be appropriate later this year if economy evolves broadly as expected. Markets shift focus […]

The post Dollar Index outlook: Dollar Falls Further on Rising Bets for Fed Rate Cut appeared first on Action Forex.

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12/04/2024

EURGBP Wave Analysis

EURGBP reversed from resistance level 0.8585 Likely to fall to support level 0.8500 EURGBP currency pair recently reversed down from the pivotal resistance level 0.8585 (which has been reversing the price from February). The resistance level 0.8585 was strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of the downward impulse […]
18/06/2024

GBP/USD Eyes UK Inflation

The British pound has edged lower on Tuesday. GBP/USD is trading at 1.2683 in the European session at the time of writing, down 0.16% on the day. There are no UK events on Tuesday, while the US releases retail sales. On Wednesday, we’ll get a look at UK inflation for May. US retail sales expected […]
20/02/2024

EURJPY on the Rise Above 162.00, But for How Long?

EURJPY posts new 3-month high Momentum indicators are gaining ground Positive structure remains intact above short- and long-term diagonal lines EURJPY is skyrocketing above the 162.00 round number, recording a fresh three-month high. The market is completing a strong bullish rally after the bounce off the 158.90 support level, posting the tenth consecutive green day. […]