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The euro is steady on Friday after jumping 0.7% a day earlier. In the European session, EUR/USD is trading at 1.0581, down 0.06% at the time of writing. The eurozone wraps up the week with the GDP and job growth reports and the market is expecting an improvement. Third-quarter GDP is expected to improve to […]

The post Euro Rally Ends, Eurozone GDP Expected to Accelerate appeared first on Action Forex.

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20/03/2024

EURGBP Struggles to Surpass 23.6% Fibo

EURGBP remains in sideways channel Technical oscillators lose steam EURGBP is finding another strong obstacle to surpass within the medium-term trading range of 0.8497 to 0.8578. Specifically, the 23.6% Fibonacci retracement level of the down leg from 0.8765 to 0.8497 at 0.8560. The pair is also flirting with the 20- and the 50-day simple moving averages […]
06/02/2024

GBP/USD: Cable Falls Further as Solid US NFP Lift Dollar

Cable extends strong fall into second consecutive day, remaining under increased pressure from stronger dollar after upbeat US labor data and relatively hawkish comments from Fed Chair Powell. Fresh extension lower on Monday cracked the floor of near-term range (1.2875/1.2596), with close below here to generate initial reversal signal, which will look for verification on […]
11/04/2024

Dollar Index Continues to Benefit from Hotter Than Expected US Consumer Prices

The dollar index keeps firm tone and rises further on Thursday after surging over 1% on Wednesday (the biggest one-day gains since 3 Feb 2023), lifted by hotter than expected US inflation data, which dropped bets for the start of Fed’s policy easing cycle in June. Fresh acceleration higher has fully reversed 104.83/103.61 corrective leg […]