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Key Highlights EUR/USD failed to continue higher above 1.0450 and trimmed gains. A connecting bearish trend line is forming with resistance at 1.0385 on the 4-hour chart. GBP/USD is consolidating near the 1.2380 zone. USD/JPY dipped toward the 151.20 level and started a consolidation phase. EUR/USD Technical Analysis The Euro started a fresh increase above […]

The post Euro’s Gains Restricted: EUR/USD Faces Strong Resistance appeared first on Action Forex.

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30/05/2024

German Inflation Pushes Rates Higher

In focus today In the euro area, we receive data on the unemployment rate in April. The labour market is still historically strong, and employment grew 0.3% q/q in Q1. We expect the unemployment rate remained unchanged at 6.5%. In the euro area, we will also look out for Spanish inflation which will give a […]
14/08/2024

Market Analysis: AUD/USD Rallies While NZD/USD Trims Gains

AUD/USD is consolidating gains near the 0.6620 zone. NZD/USD is trimming gains and struggling to stay above the 0.6000 pivot zone. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar started a downside correction from 0.6640 against the US Dollar. There is a key bullish trend line forming with support at 0.6610 on […]
18/12/2023

Euro Stabilizes Despite Weak German Business Confidence

German business confidence weaker than expected The euro has started the week in positive territory on Monday. In the European session, EUR/USD is trading at 1.0914, up 0.18%. It was a week of sharp swings for the euro, which posted strong gains during the week but reversed directions on Friday and declined 0.88%. Still, the […]