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Key Highlights EUR/USD started a steady increase and surpassed the 1.0910 resistance. A key bullish trend line is forming with support at 1.0870 on the 4-hour chart. GBP/USD is correcting gains from the 1.3050 resistance zone. Oil prices extended losses and declined below the $80.50 level. EUR/USD Technical Analysis The Euro remained in a positive […]

The post EUR/USD Remains Supported For More Upsides Above 1.0880 appeared first on Action Forex.

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08/06/2024

Weekly Focus – ECB in No Rush to Commit to Further Ccuts

The ECB delivered the widely anticipated first 25bp rate cut but kept its forward-looking guidance vague. Lagarde noted there was a ‘strong likelihood’ the ECB would dial back the restrictiveness of their monetary policy going forward but was not ready to pre-commit or even discuss the possible timing of the next cut. The updated economic […]
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