Tag: Action Forex

USDCAD has been on the rise since the Bank of Canada reduced rates by 25 basis points last week. Currently, the price is testing the major trend line resistance of a triangle on the...

The EUR/USD pair experienced a dip to 1.0825 last week but has since been moving sideways. The initial bias for this week remains neutral, with a further fall likely as long as the minor...

The EUR/USD pair is currently experiencing a slight downward trend, with the intraday bias leaning towards the downside. Analysts predict that the fall from the short-term peak of 1.0947 could continue towards the 55-day...

The latest data analysis and forecasts for various economic indicators have been released. Here are some key highlights:- In Australia, the Manufacturing PMI for July was reported at 47.2, while the Services PMI stood...

EUR/JPY experienced a significant drop of almost 1% on Tuesday due to the strengthening of the yen following hawkish discussions that suggest the Bank of Japan may increase interest rates. This resulted in the...

AUDUSD has been on a downward trend since July 15, with the bears breaking through the key support level of 0.6690. The pair is now back within a range that it has been trading...

The Federal Reserve is eagerly awaiting the release of key economic data this week to gain a better understanding of the current state of growth and inflation in the US. The upcoming Preliminary GDP...

Congress has given the Federal Reserve a dual mandate to focus on "maximum employment" and "price stability." In recent years, the focus has been on the latter due to high inflation rates. However, there...

Last week, EUR/USD saw an increase to 1.0947 before pulling back. The current outlook for this week is uncertain, with the possibility of a further increase as long as the minor support level of...

Investors are eagerly awaiting upcoming economic events that will shed light on the current state of various economies and potentially impact their trading decisions. One key event is the release of the first estimate...

The European Central Bank (ECB) announced today that they have decided to keep their key policy rates unchanged in a unanimous decision. They reiterated their stance of not committing to a specific rate path...

On July 18, 2024, several economic data updates were released that could provide valuable insights for forex trading. Let's take a closer look at the key events and their impact on the market.Starting with...

Global core bonds saw some gains ahead of the release of US retail sales data. UK gilts performed slightly better than Bunds and Treasuries as investors prepare for the upcoming June CPI numbers. There...

The Eco Data Calendar for July 16, 2024, provides a snapshot of various economic indicators from around the world. Here are some key events and their corresponding data:1. Japan's Tertiary Industry Index for May...

The GBP/USD pair saw a significant breakthrough last week, surpassing the 1.2859 resistance level and confirming a continuation of the rally that began at 1.2298. As we look ahead to the coming week, the...

Gold has been a valuable asset for centuries, starting from ancient times when it was used for various purposes such as jewellery, religious ceremonies, and trade. Throughout history, gold has played a crucial role...

EUR/USD saw a strong rally last week, reaching a high of 1.0910. The current bias is still leaning towards the upside for the coming week. If there is a decisive break above 1.0915, we...

The Dollar saw a significant decline last week as market expectations for the Federal Reserve’s policy shifted, making a rate cut in September almost certain. The US CPI report indicated a cooling economy and...

In the United States, inflation has decreased more than expected in June, increasing the likelihood of a rate cut in September. This news comes after Federal Reserve Governor Lisa Cook mentioned that a "soft...

It's already halfway through 2024, and the countdown to the US presidential election has begun. While geopolitical tensions like the Ukrainian-Russian conflict and Israeli-Hamas situation are ongoing, the focus has shifted towards political risks...

USD/CAD has been trading within a tight range recently, reflecting the consolidation of the US Dollar Index and the potential rate differential between Canada and the US. The recent volatility in Canada's inflation and...

The UK economy has shown signs of improvement, with GDP growing by 0.7% in the first quarter of the year. Analysts are now expecting a 0.2% increase in GDP for the month of May,...

The euro is not moving much today. It is currently trading at 1.0819 against the US dollar, which is a slight increase of 0.05%. Investor confidence in the eurozone, as measured by the Sentix Investor...

The latest US inflation data is set to be released this Thursday at 12:30 GMT, with expectations pointing towards a further decline in the headline Consumer Price Index (CPI) for the month of June....

On Friday, June 5, the Dollar Index (DXY) hit a three-week low, while the euro showed its largest weekly gain against the dollar in a year. This was due to the US not performing...

Traders are eagerly watching the outcome of the French election, with the far-right National Rally (RN) leading the first round but facing opposition from left-wing and centrist parties in the second round. The rise...

The USD/JPY pair recently reached a new multi-year high at 161.95 before experiencing a correction. It dropped below a key bullish trend line with support at 161.50 on the 4-hour chart. Meanwhile, the EUR/USD...

USDCAD has been moving back and forth in a sideways range for some time now. Recently, there has been a shift towards negative momentum in the market. The price is currently approaching the lower...

The Australian Dollar (AUD) and the New Zealand Dollar (NZD) are both showing signs of potential growth against the US Dollar (USD) in the forex market. Let's take a closer look at the technical...

USD/CAD has experienced a recent decline after facing resistance at the 1.3750 level. The pair broke below a significant bullish trend line with support at 1.3670 on the 4-hour chart. This movement indicates a...

The latest data on job creation in the US private sector has shown weaker growth than expected, putting pressure on the US dollar. According to fresh ADP estimates, only 150,000 jobs were created in...

European markets experienced a risk-on movement today, following a record close of the US S&P 500 above the 5500 mark. This positive sentiment also influenced European investors, with the Eurostoxx 50 gaining 1.3%. In...

The XTIUSD price analysis shows that there is bullish momentum building towards a key resistance area. If a bearish scenario occurs, selling below 83.63 with certain target prices and stop-loss levels is recommended. On...

Eurozone inflation has been holding steady, with the CPI standing at 2.5% year on year, remaining within the range of 2.4% to 2.6% for the past five months. This lack of deceleration has been...

Marine Le Pen's Rassemblement National emerged victorious in the first round of French parliamentary elections, securing around 33% of the vote. The left front followed with 28%, and Macron's alliance with 21%. The RN...