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The most hotly anticipated central bank meeting of the year did not disappoint on Wednesday, with the Fed potentially delivering this year’s Santa rally. I don’t think many will have expected the Fed to go as far as it did in forecasting three rate cuts next year only three months after suggesting the tightening cycle […]

The post Fed Overdelivers – Will ECB and BoE Follow? appeared first on Action Forex.

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09/09/2024

EUR/USD Faces Challenges: Can It Break To New Gains?

Key Highlights EUR/USD is facing hurdles near the 1.1120 and 1.1140 levels. A major contracting triangle is forming with support at 1.1060 on the 4-hour chart. GBP/USD is consolidating gains above the 1.3050 level. Oil prices extended losses below the $70.00 support. EUR/USD Technical Analysis The Euro started another increase from the 1.1025 support against […]
25/04/2024

Elliott Wave Intraday Analysis on GBPUSD Shows 5 Waves Bullish Impulse

Elliott Wave view on GBPUSD suggests that rally from 10.4.2023 low takes the form of an impulsive structure. Up from 10.4.2023 low, wave (1) ended at 1.2828. Correction in wave (2) unfolded as an expanded flat Elliott Wave structure. Down from wave (1), wave A ended at 1.2519 and wave B ended at 1.2894. Down […]
14/06/2024

USDCAD Remains Bullish With Weak Momentum

USDCAD fails to extend above 1.3785 Stochastics suggest bearish retracement USDCAD is still developing above the short-term simple moving averages (SMAs), which are ready for a bullish crossover, and above the medium-term uptrend line. Technically, the MACD oscillator is moving sideways above the zero level; however, the stochastic oscillator is indicating a negative movement as […]