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Although financial markets in both the US and the UK are closed for a public holiday today, Donald Trump is keeping traders on their toes. According to a fresh Reuters report, the US President has backed down from his threat to impose 50% tariffs on EU goods from 1 June, following a phone call from […]

The post EUR/USD Hits Key Resistance Level appeared first on Action Forex.

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04/10/2024

USD/JPY Restarts Its Rally, US Nonfarm Payrolls Report Next

Key Highlights USD/JPY started a fresh increase above the 145.00 resistance. A key bullish trend line is forming with support at 145.80 on the 4-hour chart. EUR/USD declined below the 1.1075 support level. GBP/USD trimmed gains and traded below the 1.3200 support level. USD/JPY Technical Analysis The US Dollar formed a base above 141.65 and […]
04/04/2025

EURUSD Wave Analysis

EURUSD: ⬆️ Buy  EURUSD broke key resistance level 1.0930  Likely to rise to the resistance level 1.1200 EURUSD currency pair recently broke the key resistance level 1.0930 (which has been reversing the price from November – having stopped the previous waves 2 and (2), as can be seen below). The breakout of the resistance level […]
09/05/2024

Bank of England Closing In On Rate Cuts

Summary The Bank of England (BoE) held its policy rate at 5.25% at today’s monetary policy announcement, but offered a dovish outlook that suggests rate cuts are now approaching. The BoE said restrictive monetary policy is weighing on activity in the real economy, is leading to a looser labor market and is bearing down on […]