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A 25bps cut by the ECB is likely to have been fully priced in. The current high expectation of another ECB rate cut in December faces an increased repricing risk. Watch the 1.0780/0750 key medium-term support on the EUR/USD. In the past four weeks, the EUR/USD has plummeted by 3.3% from its 25 September high of […]

The post EUR/USD Technical: Overstretched Decline Heading into ECB Meeting appeared first on Action Forex.

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12/11/2024

GBP/USD Slips to 3-Month Low as Unemployment Rate Jumps

The British pound is down for a third straight trading day on Tuesday. In the European session, GBP/USD is trading at 1.2822, down 0.36% on the day. Earlier today, the pound fell below the 1.28 line for the first time since Aug. 15. UK employment rate climbs to 4.3% The UK employment report for the […]
23/07/2024

EURJPY Extends Pullback from 32-year High

EURJPY jumped to its highest since January 1992 on July 11 But is trending lower since then due to Japanese intervention Oscillators deteriorate significantly, suggesting bearish bias EURJPY has been in an uptrend since the beginning of the year, storming to a fresh 32-year peak of 175.41. Nevertheless, the pair experienced a pullback following a currency intervention […]
18/04/2024

British Pound Shows Signs of Recovery Amid Favourable Inflation Data

The British pound sterling is showing signs of recovery, bouncing back from a five-month low, with GBP/USD stabilising around the 1.2470 mark on Thursday. This rebound is attributed to the release of UK inflation data, suggesting a possible monetary policy easing by the Bank of England (BoE). The UK’s consumer price index (CPI) slowed to […]