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After a rough month of July taking the most traded Major pair from 1.1830 highs to a 4-handle correction, the NFP report at the beginning of the month led a huge wave of higher mean-reversion – An end-July daily double top on the pair had brought fresh technical fuel to sell the Euro. August 1st […]

The post EURUSD Attempts to Break 1.17, Sees Newfound Strength from US CPI Report appeared first on Action Forex.

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Gold’s (XAU/USD) Recovers to $3350/oz After Mixed CPI Reaction. What Next?

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12/06/2024

EURUSD Recoups Losses and Bearish Gap after US CPI

EURUSD posts gains above 1.0800 RSI crosses above 50 level EURUSD is extending its rebound off 1.0740 after US inflation data that was lower than expected. The pair jumped above the 50- and the 200-day simple moving averages (SMAs) as well as the 1.0800 round number. Technically, the RSI indicator is currently crossing the 50 […]
21/04/2025

Dollar Repeats Bearish Pattern of the 1980s and 2000s

After four consecutive weeks of decline, the dollar index started the new Monday by continuing its move into the territory of three-year lows. Once again, a worrying sign is that this dollar weakness is not translating into buying in stocks or bonds — their indices are also losing ground. From a technical standpoint, the dollar […]
25/07/2024

EURUSD Pulls Back Towards Converging SMAs

EURUSD retraces lower after hitting 4-month high The bears eye converging 50- and 200-day SMAs Oscillators deteriorate but remain in positive zones EURUSD had been rising steadily following its bullish breakout from a downward sloping trendline in early July, posting a fresh four-month peak of 1.0947 last week. However, the pair has been experiencing a correction since […]