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EURUSD eyes breakout above 1.0880-1.0900 for further gains Recent rebound is not enough to upgrade short-term outlook A strong rally above 1.1000 needed for bulls to seize control EURUSD kicked off the US election day on a cautiously positive note, aiming to cross above the 1.0880–1.0900 border that has been capping bullish momentum over the […]

The post EURUSD Makes Soft Positive Start on US Election Day appeared first on Action Forex.

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29/08/2024

Sunset Market Commentary

Markets Spanish and German consumer prices rose less than expected in August. Spanish prices were flat in M/M terms with headline CPI falling more than forecast, from 2.9% to 2.4%. German prices even fell by 0.2% M/M to be up 2% Y/Y (from 2.6% vs 2.2% expected). It was the first time since March 2021 […]
11/10/2024

US Dollar Index (DXY) Outlook: Dollar Bulls to Take a Breath or PPI Data to Extend Rally?

The US Dollar Index (DXY) is in an intriguing position after mixed price action and ahead of PPI data. The future of the dollar may be influenced by external factors like oil prices and Middle East tensions. Technically, the DXY is facing resistance and a potential pullback, but underlying fundamentals remain supportive. The US Dollar […]
12/12/2023

GBP/USD: Cable Remains Constructive Above 200DMA But More Action at the Upside Needed to Confirm

Cable edged lower on sub-forecast Uk November earnings which adds to talks about possible rate cuts, although the BoE signals that cuts are still not on the table, with hawkish hold expected on Thursday’s policy meeting. Near-term structure remains positively aligned while the price stays above 200DMA (1.2491), but break above 10DMA (1.2608) is needed […]