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Eurozone sees marginal improvement in surveys US services cool in February EURUSD breaks through descending channel The PMI surveys have certainly made it an eventful day in the markets, albeit one that doesn’t necessarily provide more clarity on interest rate movements in the coming months. The eurozone PMIs displayed some improvement on the services side, […]

The post EUR/USD – A Bullish Breakout or Just Further Consolidation? appeared first on Action Forex.

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25/05/2024

Weekly Economic & Financial Commentary: Higher for Longer Mantra on Repeat in Week Replete with Fed Speak

Summary United States: High Mortgage Rates Burden Homebuyers Homebuying retreated in April following a leg up in mortgage rates. Meanwhile, durable goods orders surprised to the upside, suggesting the manufacturing industry is on better footing. Next week: Consumer Confidence (Tue.), Personal Income & Spending (Fri.) International: Foreign Economies Show Mixed Inflation Trends amid Ongoing Economic […]
05/06/2024

USDJPY Recoups Losses After Bounce Off Rising Line

USDJPY heads north with first resistance at 20-day SMA RSI and Stochastics confirm upside movement USDJPY has reversed back up again after the strong rebound off the medium-term uptrend line and the 50-day simple moving average (SMA), meeting the 23.6% Fibonacci retracement level of the up leg from 140.20 to 160.20 at 155.50. Momentum indicators […]
05/08/2024

S&P 500 Index Wave Analysis

S&P 500 Index under bearish pressure Likely to fall to support level 5200.00 S&P 500 Index is under the bearish pressure after the price broke below the key support level 5400.00, which reversed the price with two consecutive Bullish Engulfing reversal patterns at the end of July. The breakout of the support level 5400.00 coincided […]