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EURUSD rises for the third straight day, benefiting from weaker dollar on speculations of the magnitude of Fed’s rate cut on Wednesday. Recovery leg from a higher base (formed after a double rejection just above psychological 1.10 support) retraced so far 61.8% of 1.1201/1.1002 pullback, adding to upside prospects. Improved picture on daily chart (MA’s […]

The post EUR/USD Outlook: Euro Rises Further on Weaker Dollar appeared first on Action Forex.

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05/01/2024

NZD/JPY Price Analysis: Rises Sharply and Shifts Bullish After Reclaiming 90.00

NZD/JPY’s 0.70% surge driven by Japanese Yen’s broad weakness, indicating a bullish turn above the Ichimoku cloud. Upcoming resistance challenges include cycle high at 90.43 and the key 91.00 psychological level. Bears could regain ground, targeting supports at Kumo’s top, the Kijun-Sen, and Kumo’s bottom. The NZD/JPY soared sharply and posted gains of more than […]
30/11/2023

WTI Oil Futures in a Fierce Battle With 200-day SMA

WTI futures fall to a 4-month low before attempting a recovery  But their rebound is being held down by the 200-day SMA  Momentum indicators suggest that positive momentum is picking up WTI oil futures (January delivery) have been on the retreat since their October peak of 89.85, breaking aggressively below historical support zones. Although the price managed to find its feet […]
19/09/2024

British Pound Rises as Core CPI Jumps

The British pound has gained ground on Wednesday. In the European session, GBP/USD is trading at 1.3224, up 0.48% on the day. UK core inflation surprises to the upside First, the good news. UK headline inflation remained unchanged at 2.2% y/y in August, and matched the market estimate. The Bank of England had estimated that […]