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In focus today It should be a quiet finish to a very busy week for macro news. Today we will get the second wage tally from the Japanese “spring wage offensive”. It will be interesting to see if the solid pay hike in big business has rubbed off more broadly. Today we also look out […]

The post SNB First G10 Bank to Cut Rates appeared first on Action Forex.

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Instrument of the Week (25-29 March): GBPCAD Spotlight

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10/09/2024

Gold Coming Out of Elliott Wave Triangle

On a higher degree time frame, we see gold coming higher into a fifth wave, but it may take some time before it finds the top, as we see an unfinished lower degree impulse. Gold remains in strong and impulsive five-wave bullish cycle on a daily chart and there’s space for more upside, we will […]
06/12/2023

EUR/GBP: Hits New Multi-Month Low, But Oversold Studies Continue to Obstruct Bears

EURGBP fell to three-month low early Wednesday, attempting to resume larger downtrend, after a brief consolidation in past two days. Larger bears regained traction following a double rejection of recovery attempts and received fresh boost from weak German data (factory orders slumped in October and Nov construction PMI fell to the lowest since mid-2020). Bears […]
22/01/2024

EUR/USD Could Restart Increase If It Clears This Resistance

Key Highlights EUR/USD declined below 1.0920 and tested the 1.0845 zone. A key bearish trend line is forming with resistance near 1.0900 on the 4-hour chart. GBP/USD is eyeing a decent increase above the 1.2750 resistance. Gold prices found support near $2,000 and started a fresh increase. EUR/USD Technical Analysis The Euro failed to clear […]