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DXY: The DXY chart maintains a bearish momentum, suggesting a potential continuation of the downtrend towards the 1st support level. The 1st support at 103.71 is significant as an overlap support, indicating its historical relevance as a level where buying interest has previously emerged, potentially providing a floor for the current downtrend. Further supporting potential […]

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11/01/2024

GBP Reacts to Gov. Bailey’s Address

Just a few hours ago, Andrew Bailey, the governor of the BoE gave a speech regarding his testimony, along with Deputy Governor Sarah Breeden, on the Financial Stability Report before the Treasury Select Committee, in London. The speech reflects the commitment of the BoE to continue its projection towards the target inflation rate. Although the […]
21/10/2024

Weak German PPI Send the Euro Back Down

Market picture The German Producer Price Index fell more than expected, preventing the EURUSD from extending the rebound seen at the end of last week. Producer prices in Europe’s largest economy fell 0.5% in September (-0.2% expected), accelerating the annual decline to 1.4% (-0.8% expected) from 0.8% in the previous month. The negative annual growth […]

USD/CHF Technical Outlook: Pullback Before Continuation?

USD/CHF is showing potential for bullish continuation. The Swiss National Bank may welcome a weaker CHF due to pressure from the swiss export sector. Upcoming US data and geopolitical events, including the IMF meeting and US election, could impact USD/CHF. Eyeing an extended move to the upside as it hovers around a support area on […]