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Summary We share the near-universally held view that the FOMC will leave the fed funds rate and pace of quantitative tightening (QT) unchanged at the conclusion of its upcoming meeting on January 31. The FOMC’s decision last month to leave the fed funds rate unchanged for a third consecutive meeting made it increasingly clear that […]

The post January Flashlight for the FOMC Blackout Period appeared first on Action Forex.

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13/08/2024

GBPUSD Battles With 50-day SMA

GBPUSD advances after its bounce off 200-day SMA A potential breach of 50-day SMA could improve outlook Oscillators suggest strengthening positive momentum GBPUSD had been on the rise following its deflection at the 200-day simple moving average (SMA) on August 8. After four consecutive daily green candlesticks, the pair is on track to reclaim its 50-day SMA […]
11/06/2024

EURJPY Trades Sideways Ahead of Key Events

EURJPY is hovering below the recent 171.56 high Yen failed to benefit from Monday’s euro weakness Momentum indicators point to weakening bullish pressure EURJPY is trading sideways today as the yen has failed to benefit from the euro’s weakness following Sunday’s European parliamentary election results. The pair is still hovering close to its recent 171.56 […]
03/07/2024

GBP/USD Outlook: Lifted Further by Better Than Expected UK PMI Data

Cable advances for the second consecutive day, underpinned by better than expected UK services PMI (dominant sector of the economy) released earlier today. Fresh bulls cracked psychological 1.2700 barrier and nearby pivotal Fibo resistance at 1.2707 (38.2% of 1.2860/1.2612 bear-leg) with bounce from 1.2612 higher base being underpinned by rising and thickening daily Ichimoku cloud. […]