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Key Highlights EUR/USD failed to surpass 1.0765 and declined once again. A major bearish trend line is forming with resistance at 1.0710 on the 4-hour chart. GBP/USD declined heavily and traded below the 1.2680 support. Bitcoin price extended losses and traded below the $64,200 support. EUR/USD Technical Analysis The Euro failed to recover above the […]

The post EUR/USD Remains At The Edge, Can It Recover? appeared first on Action Forex.

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04/07/2024

Crude Oil Moved Up But Looks Vulnerable

Crude oil inventories in US commercial storage fell by 12.2 million barrels last week, marking the sharpest decline since last July. The decrease is attributed to preparations for the start of the US driving season. Not only was the change significant, but it was also drastically different from the expected 0.4 million decline, prompting impulse […]
04/11/2024

Preparing for a US Election Marathon

The world is preparing for the November 5 US presidential election Voting times vary across states but the focus will be on seven key states Candidates need to win most of these swing states to secure victory “Safe” states will be called quickly but the final result might be delayed for days The countdown to the […]
18/12/2023

Market’s Move Back to Reality May Heal the Dollar

The Dollar made a crucial technical breakdown the previous week following a public admission from the Fed of a policy reversal. The Fed’s comments and subsequent press conference pressed the Dollar index under its 200-day moving average. The decline continued on Thursday as neither the Bank of England nor the ECB acknowledged that they were […]