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EURUSD bounced on Wednesday after a triple rejection at 1.0800 support zone (50% retracement of 1.0666/1.0948 rally/daily Kijun-sen) signals formation of a bear-trap. Fresh gains were sparked by higher than expected EU inflation numbers in July which improved Euro’s sentiment and below expectations US ADP private sector payrolls signaling softening in US labor market and […]

The post EUR/USD Outlook: Rises on EU CPI and US Labor Data, Bear-Trap Forming on Daily Chart appeared first on Action Forex.

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17/04/2024

GBP/USD Rises as UK Inflation Higher than Expected

The British pound has rebounded after sliding 2.1% over the past week. In the European session, GBP/USD is trading at 1.2461, up 0.28%. UK inflation drops to 3.2% Inflation in the UK continues to decline but the March release was not as strong as expected. Inflation eased to 3.2% y/y, down from 3.4% in February […]
29/08/2024

Gold Holds Steady: Will It Rise Again? US GDP Next

Key Highlights Gold gained pace and traded above the $2,500 resistance. A connecting bullish trend line is forming with support at $2,495 on the 4-hour chart. Oil prices faced resistance near $78.40 and trimmed some gains. The US Gross Domestic Product could grow by 2.8% in Q2 2024 (Preliminary). Gold Price Technical Analysis Gold prices […]
27/06/2024

Nikkei 225: Bullish Breakout With Improved Market Breadth

Nikkei 225 broke above a 4-week range configuration Market breadth on the TOPIX has improved steadily as more of its component stocks have traded above their respective 200-day moving averages in the past three weeks. Citigroup Economic Surprise Index for Japan has inched higher since the end of May which suggests an improvement in Japanese […]