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The Swiss franc is almost unchanged on Wednesday. USD/CHF is trading at 0.8838 in the North American session, down 0.04% on the day. Will the Swiss National Bank cut rates again? Switzerland’s central bank will announce its rate decision on Thursday and the markets are on edge. Will the Swiss National Bank lower rates or […]

The post USD/CHF – Flat Ahead of SNB Rate Decision appeared first on Action Forex.

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05/08/2024

EUR/USD Targets Gains, Bitcoin and Ethereum Nosedives

Key Highlights EUR/USD started a fresh increase from the 1.0775 support zone. It broke a key bearish trend line with resistance at 1.0820 on the 4-hour chart. GBP/USD is attempting to recover above the 1.2820 resistance. Bitcoin and Ethereum declined heavily below $60,000 and $2,500 respectively. EUR/USD Technical Analysis The Euro found support near the […]
04/07/2024

USD/CAD Breaks Key Support

On 25 June, we noted that the USD/CAD price had approached a crucial support level—the lower boundary of a converging triangle, which indicated a relative balance of supply and demand in the market during May. Since then, the price has bounced twice from this level (as indicated by the arrow). Today, as the USD/CAD chart […]
05/06/2024

Oil Consolidates Near Critical Support – BoC to Announce First Rate Cut

Shocker! The exit polls were completely wrong in predicting the outcome of the Indian election. Not only that Narendra Modi’s BJP couldn’t secure a landslide victory in the latest elections – as it was suggested by Monday’s polls, but it couldn’t even win enough seats to secure a majority in the parliament. Its focus on […]