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In focus today Today focus will be on the Riksbank’s policy rate announcement at 09.30 CEST followed by a press conference at 11.00 CEST. The Riksbank is widely expected to leave the policy rate unchanged at 3.75%. We stick to our call for the next rate cut coming in September, followed by quarterly cuts of […]

The post Yen Drops to 1986 Low appeared first on Action Forex.

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EURUSD Rises Slightly Up After Battle With 8-Week Low

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03/07/2024

Crypto Stays Under Pressure

Market picture The pressure on the crypto has been more sustained than on the stocks. Over the past 24 hours, the total crypto cap has fallen by 2.6%, with most of the downward momentum starting in the US session. The stock market, on the other hand, was supported by Powell’s comments and closed at all-time […]
18/03/2024

USD/JPY: JPY Plummeted, Ignoring the Possibility of a More Hawkish BoJ

The price actions of the USD/JPY have reacted negatively right below the 150.70 key resistance as highlighted in our previous analysis and shed -435 pips/-2.9% to print a recent intraday low of 146.48 on 8 March. Thereafter, the USD/JPY has drifted higher to trade back above the 148.00 psychological level in light of the “not […]
08/12/2023

Technical Outlook and Review

DXY: The DXY chart currently shows a bearish overall momentum, indicating a potential for a bearish continuation in the price action. The 1st support level at 103.19 is considered an overlap support. This level holds significance as it aligns with both the 61.80% Fibonacci Retracement and the 61.80% Fibonacci Projection, indicating a Fibonacci confluence. This […]