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Soft UK data increase chances for September rate cut But wage growth remains elevated BoE meets on Thursday at 11:00 GMT But looming election could be a reason for cautiousness Investors more convinced about a September cut At its latest gathering, the Bank of England (BoE) appeared dovish enough to encourage market participants to assign […]

The post Will BoE Signal Rate Cuts Looming? appeared first on Action Forex.

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GBP/USD Eyes UK Inflation

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AUDUSD Wave Analysis

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18/07/2024

Elliott Wave Intraday: Rally in Bitcoin (BTCUSD) Looking Impulsive

Rally from 7.5.2024 low in Bitcoin (BTCUSD) looks impulsive suggesting further upside. Pullback to 53570 ended wave ((4)) and Bitcoin has turned higher in wave ((5)). The crypto currency still needs to break the previous all-time high on 3.14.2024 high at 73794 to rule out any double correction. Up from wave ((4)), wave ((i)) ended […]
13/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently has a bullish overall momentum, with price trading within a bullish ascending channel. In this scenario, price could potentially continue its bullish momentum towards the 1st resistance level. The 1st support at 103.28 is considered a swing low support, indicating that it has previously acted as a […]
26/01/2024

USD/JPY Steady after Tokyo Core CPI Falls Below 2%

The Japanese yen is drifting on Friday. In the European session, USD/JPY is trading at 147.80, up 0.10%. Tokyo Core CPI falls to 1.6% Tokyo Core CPI reached a significant milestone today, falling to 1.6% y/y in January, after a December reading of 2.1%. This was the first time the indicator dropped below the Bank […]