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Short Term Elliott Wave View in spot Silver (XAGUSD) suggests that rally from 8.8.2024 low is in progress as an impulse. Up from 8.8.2024 low, wave 1 ended at 30.18 and dips in wave 2 ended at 27.69. Wave 3 higher ended at 32.71 and pullback in wave 4 ended at 30.13 with internal subdivision […]

The post Elliott Wave Intraday View in Silver (XAGUSD) Favoring the Upside appeared first on Action Forex.

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EUR/USD: Holds Near Multi-Week Low Ahead of ECB’s Widely Expected 0.25% Rate Cut

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22/11/2024

EUR/USD Breaks 2023 Low

Today’s PMI figures were released and came in worse than analysts’ expectations. The Flash Manufacturing PMI and Flash Services PMI for both Germany and France fell below the 50.0 threshold, indicating that Europe’s economy is slowing down. This weakened the euro further and exacerbated the situation on the EUR/USD chart, which has been in a […]
04/04/2024

EUR/USD Surges Following Powell’s Remarks on Interest Rates

The EUR/USD pair moved upward to 1.0844 on Thursday, marking an unexpected shift following a period of strong US dollar performance. This change in dynamics can be attributed to investors’ positive response to comments made by US Federal Reserve Chair Jerome Powell regarding the future of interest rates. Powell’s remarks led to a surge in […]
27/08/2024

British Pound (GBP) Price Action Ideas: Sterling Set for Correction? GBP/USD, EUR/GBP and GBP/JPY

The British pound has been one of the best-performing currencies in recent weeks, driven by a good run of UK data and expectations that the Bank of England will not cut interest rates at its upcoming meeting. However, there are signs that a correction may be imminent, as the GBP/USD pair is trading in overbought […]