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EURUSD trades in a range defined by 50- and 200-day SMAs Momentum indicators are marginally tilted to the upside EURUSD has posted a mild recovery following its pullback from the December high of 1.1138 to the 2024 bottom of 1.0693. However, the pair’s rebound has stalled at the congested region that includes the 50-day simple moving […]

The post EURUSD Remains Stuck Between SMAs appeared first on Action Forex.

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14/12/2023

A Hawkish BoE Followed by An Uneventful ECB Announcement

The Bank of England and the European Central Bank both left rates on hold on Thursday but unlike following the announcement of their counterparts in the US, there were no fireworks. Of course, it’s worth noting that the press conference is yet to happen so fireworks may fly when President Lagarde speaks but the announcement […]
05/07/2024

Canada’s Job Market Softens Further in June

Canadian employment was essentially unchanged in June (-1.6k), disappointing expectations for a modest 25k gain. Job losses were once again in full-time positions (-3.4k), while part-time jobs rose only slightly (1.9k). As a result, the unemployment rate rose two tenths to 6.4%, thanks to healthy growth in the labour force (+40.4k). However, that was not […]
11/03/2024

EUR/USD Hits 8-Week High

The euro is trading above USD 1.09, hitting its strongest point since mid-January on Friday, helped by news from both the US and Europe. Friday’s news showed that the US labor market is weakening: → The change in employment in the non-farm sector showed an increase in jobs = 275k for the month, although last […]