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The Federal Reserve Open Market Committee (FOMC) maintained the federal funds rate in the 5.25% to 5.50% range and announced it would continue its balance sheet runoff. The Fed adjusted its language to acknowledge the recent easing in economic data, stating “recent indicators suggest that growth of economic activity has slowed from its strong pace […]

The post Fed Holds Rates, Signals More Rate Cuts in 2024 appeared first on Action Forex.

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14/05/2024

GBPUSD Advances Above 200-Day SMA

GBPUSD looks neutral in very short-term A jump above 1.2630 could add some optimism Stochastic and MACD are mixed GBPUSD has successfully jumped above the 200-day simple moving average (SMA) with the next crucial obstacle coming from the short-term downtrend line and the 50-day SMA around 1.2590. Technically, the MACD oscillator is still developing with […]
21/03/2024

Pound Edges Lower Ahead of BoE Meeting

The British pound is slightly lower on Thursday. In the European session, GBP/USD is trading at 1.2766, down 0.16%. BoE expected to hold rates The markets will shift focus from the Federal Reserve, which maintained rates on Wednesday, to the Bank of England, which is holding its rate meeting later today. The BoE is widely […]
05/08/2024

S&P 500 Index Wave Analysis

S&P 500 Index under bearish pressure Likely to fall to support level 5200.00 S&P 500 Index is under the bearish pressure after the price broke below the key support level 5400.00, which reversed the price with two consecutive Bullish Engulfing reversal patterns at the end of July. The breakout of the support level 5400.00 coincided […]