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Key Highlights EUR/USD started a recovery wave from the 1.0340 zone. A major bearish trend line is forming with resistance at 1.0450 on the 4-hour chart. GBP/USD is consolidating above the 1.2500 support zone. USD/JPY might continue to rise if it clears the 158.00 resistance zone. EUR/USD Technical Analysis The Euro found support near the […]

The post EUR/USD At Risk of Another Slide, Can Bulls Survive? appeared first on Action Forex.

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18/12/2023

USD/CAD Analysis: Rate Reaches Its Minimum in 4 Months

On Friday, the rate dropped below 1.366 for the first time since the beginning of August. This was facilitated by fundamental drivers: → The US dollar weakens after the Federal Reserve meeting, which signaled the possibility of lowering interest rates next year. Powell said monetary tightening is likely complete and discussions about cuts are “on […]
11/07/2024

US: Inflationary Pressures Cool Faster than Expected in June, Bolstering Case for September Rate Cut

The Consumer Price Index (CPI) fell 0.1% month-on-month (m/m), below the consensus forecast calling for a modest 0.1% gain. On a twelve-month basis, CPI edged lower by 0.3 percentage points to 3.0%. Lower energy prices – largely attributed to a 3.7% decline in gasoline prices – helped to push down on the headline measure. Grocery […]
14/03/2024

Sunset Market Commentary

Markets: The ECB released a statement on the changes to the operational framework for implementing monetary policy. In the new framework (cf infra), the ECB will provide liquidity through a mix of instruments including the main refinancing operations (MRO’s), new structural longer-term refinancing operations and a structural portfolio of securities. However, the deposit rate facility […]