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Fresh bulls emerged after top of rising daily cloud and 200DMA (1.0851/43) contained dips for the fourth consecutive day, leaving a higher base at this zone and generating an initial signal that pullback from 1.1139 (Dec 28 peak) has bottomed. Renewed strength requires sustained break above 1.0943 pivot (20DMA/Fibo 38.2% of 1.1139/1.0821) to sideline downside […]

The post EUR/USD Outlook: Rises to One-Week Gigh on Renewed Risk Appetite appeared first on Action Forex.

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22/03/2024

Bank of England Review – Gearing Up for a June Cut

At today’s monetary policy meeting the BoE left the Bank Rate unchanged at 5.25% as widely expected. The BoE delivered a dovish twist to its forward guidance and general communication. This marks an important first step to an eventual cutting cycle. EUR/GBP moved slightly higher on the dovish vote split and communication. As expected, the […]
25/07/2024

Elliott Wave Intraday Analysis: Ethereum (ETHUSD) Pullback In Progress

Short Term Elliott Wave View in Ethereum (ETHUSD) suggests the impulse sequence ended at $3562.6 high started from 7.05.2024 low. Below there, it favors corrective pullback in wave (2). In daily sequence, it ended ((4)) correction at $2811 low as double three structure against November-2022 low. Above ((4)) low, it ended wave (1) rally at […]
05/09/2024

Strange Familiarity

US equities remained under pressure yesterday after the JOLTS report revealed that the US job openings unexpectedly fell further in July to the lowest level since 2021. The factory orders on the other hand jumped 5%, more than expected, during the same month – a welcome addition to the jolts figure that could partly tame […]