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Fundamental Analysis Today, September 12, 2024, the European Central Bank (ECB) is expected to cut interest rates by 60 basis points, marking a significant adjustment in its monetary policy. The main refinancing rate could drop to 3.65% in response to slowing inflation, which reached 2.2% in August. This move reflects growing concerns about the eurozone’s […]

The post EUR With Potential Weakness Ahead of ECB Decision: EURUSD and EURJPY appeared first on Action Forex.

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26/06/2024

USDJPY Flirts With 160 Level Again

USDJPY trades with weak momentum slightly below critical 160 level Overbought conditions detected; sellers wait below 158.35-159.00 BoJ intervention is possible; US core PCE inflation due on Friday at 12:30 GMT Following a constructive week, USDJPY is now hovering just below its 34-year high of 160.20, having surpassed April’s limit of 158.34 and a crucial resistance […]
22/02/2024

Crude Oil Price Fails Again at $78.80, Are Dips Supported?

Key Highlights Crude oil prices failed again to clear the $78.80 and $79.20 levels. It traded below a major bullish trend line with support at $77.65 on the 4-hour chart. Gold prices could gain bullish momentum above $2,032. The US Manufacturing PMI could remain stable at 50.5 in Feb 2024 (Preliminary). Crude Oil Price Technical […]
30/01/2024

S&P 500 Wave Analysis

S&P 500 rising strongly Likely to rise to resistance level 5000.00 S&P 500 index rising strongly after the price broke above the resistance level 4800.00 (which stopped the previous impulse waves 1 and i, as can be seen below). The breakout of the resistance level 4800.00 accelerated the active minor impulse wave 3 of the […]