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The Euro keeps firm tone and extends gains into third consecutive day, pressuring key resistances at 1.0750 zone (50% retracement of 1.0885/1.0601 / daily Kijun-sen). Firm break here to generate fresh bullish signal for extension of the bull-leg from 1.0601 (Apr 16) where larger downtrend was contained by a double-Fibo support (38.2% of 0.9535/1.1275 / […]

The post EUR/USD: Bulls Hold Grip and Pressure Pivotal Barriers, US Labor Data Eyed for Fresh Signals appeared first on Action Forex.

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09/05/2024

UK 100 Index Swings to All-Time High

UK 100 hits record high after the BoE rate decision; up 8% year-to-date Next target at 8,500, but fears of an overbought market might delay rally The UK 100 stock index (cash) has been performing incredibly well over the past four months, staging another exponential rally this week to unlock an all-time high of 8,393 […]
29/04/2024

Currency Interventions Usually Don’t Have Long-Lasting Market Impact

Markets The Japanese yen slid dramatically on Friday as the Asian island was heading towards a long weekend. USD/JPY soared from 155.65 to 158.44 in the wake of another JPY disappointing BoJ meeting. It contrasted with Fed policy needing to be restrictive for longer. The latter was once again obvious from higher than expected March […]
08/04/2024

Sunset Market Commentary

Markets Trading to the new week took a slow start data-wise. European production data for sure are no market movers. However, for once, we mention German February production coming out on the stronger side of expectations for the second consecutive month (+2.1% M/M; -4.9% Y/Y vs -6.8% expected). The report won’t change the ECB’s assessment […]