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Key Highlights EUR/USD struggled near 1.1020 and started a fresh decline. It traded below a key bullish trend line with support at 1.0860 on the 4-hour chart. GBP/USD is also correcting gains below the 1.2600 level. Gold prices declined heavily and traded below $2,000. EUR/USD Technical Analysis The Euro failed to gather momentum above the […]

The post EUR/USD Takes Hit And At Risk of More Downsides appeared first on Action Forex.

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02/05/2024

Happy Apple Day

The Federal Reserve (Fed) decision yesterday was… interesting. As expected, the Fed kept its rates unchanged and said that they are not confident to cut the interest rates as inflation has started to show signs of heating up. Jerome Powell reassured that the Fed’s next move will unlikely be a rate hike. That was a […]
17/07/2024

EUR/CHF Technical: Euro Underperformance Over Swiss Franc May Have Resumed

The recent 4-week rally of EUR/CHF from 19 June has started to show signs of exhaustion. The ongoing weakness of the France CAC 40 has triggered a negative feedback loop towards EUR/CHF. Watch the 0.9780 key short-term resistance on the EUR/CHF. The EUR/CHF cross pair has managed to recover its initial losses inflicted from 10 […]
03/01/2024

USD/CAD Price Analysis: Maintains Its Position Near 1.3330 Ahead of US Key Events

USD/CAD moves sideways after halting a winning streak that began on December 27. MACD indicator suggests a potential shift in the pair’s direction. A break above the 23.6% Fibonacci retracement at 1.3351 could lead the pair to surpass the 21-day EMA at 1.3363. USD/CAD hovers near 1.3330 during the Asian session on Wednesday. The USD/CAD […]