The single currency returned under 1.0700 after three days of decline. Late last month, EURUSD failed to consolidate above the 50-day moving average, confirming the prevalence of the downtrend. The bounce in the pair in the second half of last month should be seen as a technical correction after accumulated oversold conditions after 12 months […]
The post Euro Completes Rebound and Prepares for Another Round of Declines appeared first on Action Forex.
On Friday, 16 May, after markets had closed, Moody’s Ratings announced a downgrade of the long-term sovereign credit rating of the United States from the highest level of Aaa to Aa1. The key reasons cited Read more…
The USD/JPY pair declined for a fifth consecutive day, touching 145.25, as the US dollar faced sustained pressure following Moody’s decision to downgrade the US credit rating. Key drivers affecting USD/JPY On Friday, Moody’s cut Read more…
Daily Pivots: (S1) 192.96; (P) 193.52; (R1) 194.00; More… Intraday bias in GBP/JPY remains neutral and more consolidations could be seen below 196.38. Further rise is in favor as long as 190.22 support holds. On Read more…