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U.S. Highlights The Federal Reserve held the policy rate steady at 5.25-5.5% at its final interest rate announcement of the year. However, a markdown in the FOMC’s interest rate projections and little pushback from Chair Powell in the press conference on the recent pull-forward in rate cut timing pressured yields across the curve significantly lower. […]

The post The Weekly Bottom Line: Cuts! The Herald Angels Sing appeared first on Action Forex.

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22/03/2024

Technical Outlook and Review

DXY: The dollar index (DXY) chart currently demonstrates an overall bullish momentum. In this context, there is a potential scenario for price to rise towards the pivot before potentially making a bearish reaction and pull back towards the 1st support. The pivot level at 104.18 is identified as an overlap resistance where price could potentially […]
28/08/2024

WTI Outlook: Fresh Fall of Oil Price Signals an End of Corrective Phase

Oil price declines for the second straight day after recent three-day strong recovery rally was repeatedly rejected just under 200DMA ($77.80). Subsequent weakness generated reversal signal following a break below pivotal support at $74.51 (50% retracement of $71.46 / $77.57 recovery leg, reinforced by 10DMA). Daily studies weakened (MA’s are back to full bearish setup […]
05/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently has a bearish overall momentum. Price could potentially continue this bearish trend towards the 1st support at 103.02, which is identified as an overlap support. This level may act as a significant area where buying interest could emerge and potentially provide some support for the DXY. If […]