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Markets Last week’s waiting game extended into the first trading day of the new and jampacked one. Oil prices crashed more than 6% to $71.4/b (Brent) after Israel spared Iranian oil facilities in retaliatory strikes over the weekend. Markets elsewhere were much more contained. Core bonds diverged with US Treasuries underperforming German Bunds. A double […]

The post First Dollar Resistance Situated at EUR/USD 1.076 appeared first on Action Forex.

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27/09/2024

Crypto Market and Bitcoin Break the Months-Long Downtrend

Market Picture The cryptocurrency market went on to break previous peaks at the end of August, adding over 2.8% in 24 hours to reach 2.29 trillion, a high of almost two months. This rise confirmed the breakdown of the downtrend from the March peak after a higher local low in August. We foresee an easier […]
22/07/2024

News of the Week (July 22—26): USDCNH Review

The USDCNH pair represents the exchange rate between the US dollar and the Chinese yuan. Factors influencing the US dollar include Federal Reserve policies, inflation rates, and the overall health of the US economy. In contrast, the Chinese yuan is affected by China’s monetary policies, economic growth metrics, and regulatory changes impacting capital flows. Movements […]
03/01/2024

EUR/USD Edges Down to Near 1.0940 after German Employment Data, Focus Shifts to US Data

EUR/USD gains ground amid upbeat US Dollar. German Unemployment Change reduced to 5K from 22K prior. The seasonally adjusted Unemployment Rate remained consistent at 5.9%. The improved US Treasury yields are reinforcing the strength of the Greenback. EUR/USD struggles to retrace its recent losses registered in the previous session, trading near 1.0940 during the European session […]