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Key Highlights EUR/USD is consolidating losses above the 1.0600 support. A key bearish trend line is forming with resistance at 1.0670 on the 4-hour chart. GBP/USD extended losses and traded below 1.2420. Crude oil prices declined below the $82.50 support zone. EUR/USD Technical Analysis The Euro extended losses and traded below the 1.0650 support against […]

The post EUR/USD Aims Recovery But Faces Many Hurdles appeared first on Action Forex.

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17/01/2024

GBP: My Expectations From CPI

In November, average pay growth in the UK slowed to 6.5%, down from 7.2% in the previous month, according to the Office for National Statistics. This decline suggests that inflationary pressures have weakened more than anticipated. The decrease in pay growth came as the UK jobs market weakened due to high interest rates and stagnation […]
30/04/2024

Will AUDUSD Exit the Range Again?

AUDUSD comes under selling interest this week But stays within sideways range A break below 0.6485 may turn the outlook bearish For the picture to brighten, a move above 0.6615 may be needed AUDUSD was sold this week, after the bulls struggled to overcome the 0.6575 barrier.  In the bigger picture, the pair is trading back […]
24/04/2024

AUD/USD Extends Gains as Inflation Higher Than Expected

The Australian dollar has edged higher on Wednesday. In the European session, AUD/USD is trading at 0.6504, up 0.27%. The Australian dollar rose as high as 0.6529 (0.64%) after the Australian inflation release but has pared about half of those gains. Australia’s inflation dips less than forecast Australia’s inflation rate slowed less than expected in […]