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Markets Fed governor Waller was the sole highlight of yesterday’s uninspiring, holiday-thinned (Columbus Day in the US) start of the trading week. The man touted as current chair Powell’s successor said the “totality of the data” favours “more caution on the pace of rate cuts than was needed at the September meeting”. He called the […]

The post Dollar is Better Bid appeared first on Action Forex.

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06/05/2024

Markets Weigh Dovish NFP Report

In focus today Today, Swedish Service PMIs for April are released at 8:30 CET. All its subindices were above the 50 marks in March. Although price index for raw materials and intermediate goods is lower compared to a year ago, it was still significantly higher compared to the manufacturing side. Composite PMI has been in […]
08/05/2024

GBPUSD Pulls Back After Testing 50-day SMA

GBPUSD reverses lower after 50-day SMA curbs advance Violates both the 200-day SMA and descending trendline Momentum indicators are neutral-to-negative GBPUSD had been in a recovery mode following its bounce off the five-month bottom of 1.2298, with the price temporarily violating the 200-day simple moving average (SMA). However, the pair retraced back below the downward sloping trendline, […]
12/12/2023

CHFJPY Wave Analysis

CHFJPY reversed from support level 162.40 Likely to rise to resistance level 167.35 CHFJPY recently reversed up sharply from the key support level 162.40, which has been reversing the pair from the start of August. The upward reversal from the support level 162.40 created the daily Japanese candlesticks reversal pattern Long legged Doji. Given the […]