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EURCHF still stands above rising trend line Technical oscillators indicate negative correction EURCHF has been in an ascending tendency since the end of January, and it posted a fresh almost one-year high of 0.9847 in the preceding week. Currently, the market is on the backfoot with the technical oscillators indicating a bearish retracement. The RSI is moving […]

The post EURCHF Eases Slightly after 1-Year Peak appeared first on Action Forex.

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21/06/2024

Euro Extends Losses After Soft PMIs Release

The euro has edged lower on Friday. EUR/USD is trading at 1.0687 in the European session, down 0.14% on the day. Is the eurozone economy slowing down? The week ended on a sour note in Europe as June PMIs declined in the eurozone. The Services PMI dropped to 52.6, down from 53.2 in May and […]
16/09/2024

Fed Rate Decision: Intrigue Returns

Influential financial media are promoting the need for a 50-basis point rate cut. The Fed’s blackout period starts 10 days before the rate decision is released, so the main influence on the markets during this time comes from traders’ interpretation of data and commentary from influential speakers in major financial media. Employment and inflation figures […]
09/04/2024

EUR/USD: Holds in Extended Sideways Mode, Initial Negative Signals Developing on Daily Chart

Near-term action remains in a directional mode and ranging between converged 55/200DMA’s (1.0831) and 100DMA (1.0871). Strong rejections in both directions in past few sessions add to neutral stance, with the pair looking for fresh direction signals. Daily studies are mixed, though 14-d momentum bearish divergence and overbought stochastic seen as warning. Expect initial bearish […]