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The British pound is down slightly on Friday. GBP/USD is down 0.14%, trading at 1.2648 in the European session at the time of writing. It has been a good week for the pound, which has gained 1% against the US dollar. Wednesday’s inflation release showed CPI dipping in April, reversing the trend of the past […]

The post Pound Edges Lower, Markets Eye FedSpeak appeared first on Action Forex.

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Euro Edges Lower Despite Positive Inflation Report

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08/07/2024

EURUSD Jumps Above 200-day SMA

EURUSD advances after violation of restrictive trendline Reclaims both 50- and 200-day SMAs Oscillators suggest that bullish forces are strengthening EURUSD has been attempting a recovery from its one-month low of 1.0666, with the price crossing above the downward sloping trendline in place since December 2023. After some volatile sessions, the pair managed to conquer both […]
03/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently exhibits a bullish overall momentum, suggesting a strengthening of the US Dollar. Price could potentially experience a bullish bounce off the 1st support level and move towards the 1st resistance level. The 1st support at 101.77 is identified as a pullback support. This level is significant because […]
27/03/2024

USD/JPY Slides to Lowest Level Since 1990

The Japanese yen has edged higher on Wednesday. In the European session, USD/JPY is trading at 151.17, down 0.26%. Yen falls to 34-year low, will Tokyo intervene? The Bank of Japan raised interest rates last week for the first time since 2007. The move marked a sea-change in monetary policy. However, the tightening has not […]