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The FOMC are sanguine on the growth and inflation outlook, and view the risks as coming into balance. March’s FOMC meeting communications and forecasts were largely as expected, highlighting policymakers’ confidence in the fight against inflation and achieving a soft landing. The FOMC is on track to begin cutting in June, assuming progress continues to […]

The post FOMC Remain Data Dependent, But on Track for June appeared first on Action Forex.

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04/09/2024

Bitcoin Price at Risk: Are More Downsides Ahead?

Key Highlights Bitcoin price is struggling to recover above the $60,000 resistance. BTC is trading below a key bearish trend line with resistance at $59,400 on the 4-hour chart. Oil prices extended losses and traded below $72.50. Gold might correct gains and retest the $2,450 support. Bitcoin Price Technical Analysis Bitcoin price started a recovery […]
05/04/2024

ECB Preview – An Intention to Cut

We expect the key takeaway from next week’s ECB meeting will be an affirmation of the prevailing ECB narrative, of the ECB on route to deliver a rate cut in June. While this meeting may be considered an interim meeting, and lead to limited market reaction, we expect the ECB to deliver a clear commitment […]
02/09/2024

CADJPY Wave Analysis

CADJPY reversed from key support level 105.00 Likely to rise to resistance level 110.00 CADJPY currency pair recently reversed up with the weekly Hammer from the key support level 105.00 (which has been reversing the price from the middle of 2023). The support level 105.00 was strengthened by the lower weekly Bollinger Band and by […]