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Cable is holding within a narrow range under new multi-week high during European trading on Tuesday, as markets await today’s key event – the testimony of Fed Chair Powell. Long upper shadow of Monday’s daily candle and overbought conditions on daily chart suggest that bulls may take a breather at 1.2800 zone (also Fibo 76.4% […]

The post GBP/USD Outlook: Bulls Pause ahead of Powell appeared first on Action Forex.

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01/05/2024

WTI: Crude Oil Price Continues to Trend Lower and Pressure Key Support Zone

WTI oil price remains in red for the third straight day, deflated by growing hopes of a ceasefire agreement in the Middle East and rising US crude inventories. Also, stubbornly high US inflation continues to cool rate cut expectations and adds concerns that demand would weaken further in current conditions. The daily chart shows growing […]
22/05/2024

New Zealand Dollar Climbs after Hawkish RBNZ Announcement

The New Zealand dollar has pushed higher on Wednesday. NZD/USD is up 0.54%, trading at 0.6124 in the European session at the time of writing. The New Zealand dollar rose as high as 0.6152 (0.80%) in the Asian session after the RBNZ meeting but has pared much of these gains. RBNZ holds rates but says […]
30/11/2023

ETHUSD set for a breakout move

Ethereum pulls back from recent multi-month high Generates a structure of lower highs and higher lows Momentum indicators suggest that buying interest is fading ETHUSD (Ethereum) experienced a strong rally since late October, which propelled the price to 2,136, its highest level since April. However, in the past few weeks, the leading altcoin has been trading […]