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On Friday, the major currency pair became further entrenched within a local sideways channel, hovering around 1.1339. The US dollar retained gains accumulated over recent sessions, supported by US President Donald Trump’s confirmation that trade negotiations with China would continue. Key factors driving EUR/USD movements The dollar received additional support from signs of progress in […]

The post EUR/USD Stuck in Consolidation: Rumours Abound, But Facts Remain Scarce appeared first on Action Forex.

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09/01/2024

EUR/GBP Technical: Short-Term Relative Weakness of EUR Reasserts Against GBP

Persistent underperformance of the EUR against GBP as the EUR/GBP cross pair reintegrated below the 200-day moving average. The hourly RSI momentum indicator of EUR/GBP has flashed out a bearish momentum condition. Watch the 0.8615 key short-term resistance with intermediate supports coming in at 0.8550 and 0.8500. In the long term, the EUR/GBP cross pair […]
22/11/2024

Weekly Focus – Geopolitics Back on the Radar

Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons, if they were supported by a nuclear state. The change was an obvious response to US allowing Ukraine […]
06/01/2025

The Weekly Bottom Line: Awaiting the Changing of the Guard

Canadian Highlights Canada’s economy gained momentum in the latter half of 2024, providing a decent hand-off into the current year. We expect real GDP growth to move closer to a trend-like pace in 2025. The Bank of Canada has more rate cuts in the tank. Lower borrowing costs should continue to support household consumption and […]