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This week saw a further escalation of the conflict in the Middle East, as Israel attacked Hezbollah in Lebanon and Iran launched missiles at Israel. There was little market reaction. Oil prices rose around two dollars per barrel but are still lower than last week, among other things held down by Saudi Arabia’s wish to […]

The post Weekly Focus – Lower Inflation Clears Path for European Rate Cuts appeared first on Action Forex.

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25/10/2024

USD/JPY May Face Resistance, At Least Temporary One

USDJPY made big, sharp and impulsive sell-off through summer. That was wave (A) that caused a bounce in last two months, for a rally in (B) which is now at important 153-155 resistance, but there’s no evidence of a reversal yet, unless we see a bearish intraday impulse, below 146.50, where overlap will likely confirm […]
09/07/2024

XAU/USD Analysis: Gold Price Falls from Six-Week High

As shown by the XAU/USD chart, on Friday, 5 July, the price of gold rose above the $2390 level for the first time since 22 May. According to Reuters, this increase occurred following the release of key US employment data, which indicated a softening labour market, raising expectations of a Federal Reserve interest rate cut […]
15/12/2023

USDCHF Corrects Higher After 4-month Low

USDCHF ends the week in red MACD and RSI in negative region USDCHF is moving slightly higher after the retreat towards a fresh four-month low of 0.8630. The pair failed to have a closing day beneath the 0.8665 barrier, which is acting as a significant support level. Technically, the RSI is flattening near the 30 […]