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In focus today In the US, January Personal Consumption Expenditures (PCE) data is due for release this afternoon. Consensus foresees Core PCE, which is the Fed’s preferred measure for underlying inflation, at 0.4% m/m SA, in line with a similar increase in the CPI released earlier. We will also keep an eye out for real […]

The post Focus Turns to Inflation appeared first on Action Forex.

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14/12/2023

EURUSD Gains in the FOMC Aftermath

EURUSD reclaims 200-day SMA following dovish Fed signals ECB meeting later today could spur some volatility Momentum indicators are skewed to the positive side EURUSD had been experiencing a solid downside correction from its recent three-month peak of 1.1016, which ceased just shy of the 50-day simple moving average (SMA). In the past few sessions though, the […]
24/10/2024

Elliott Wave View: CADJPY Has Reached Area Where Pullback Can Happen

CADJPY has already reached the extreme area from 8.5.2024 low. This suggests that pair is in the zone where it can start to see a pullback soon. Shorter cycle structure however looks incomplete and pair can see further upside a bit more. The rally from 9.30.2024 low is currently in progress as a zigzag Elliott […]
16/09/2024

USD/JPY Analysis: Rate Falls Below 140 Yen Per Dollar

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