GBP/JPY’s strong rebound from 150.95 accelerated further higher last week. The development suggests that corrective pattern from 158.19 has completed with three waves to 150.95 already. Initial bias remains on the upside this week for Read more…
EUR/JPY’s strong rebound from 124.37 accelerated further last week. The development argues that whole corrective pattern from 134.11 has completed already. Initial bias stays on the upside for retesting 133.13/134.11 resistance zone first. Decisive break Read more…
EUR/GBP edged higher last week but quickly retreated back into familiar range. Initial bias remains neutral this week first. On the upside, above 0.8456 will target 0.8476 structural resistance first. Firm break there will carry Read more…
EUR/AUD rebounded to as high as 1.5327 last week but failed through break through 1.5354 support turned resistance. Break of 1.4920 minor support argues that the rebound is completed. Initial bias is now on the Read more…
EUR/CHF rebounded further to as high as 1.0400 last week, but retreated ahead of 38.2% retracement of 1.1149 to 0.9970 at 1.0420. Initial bias is turned neutral this week first. On the upside, break of Read more…
Yen’s down trend continued last week and even accelerated against commodity currencies. Persistent rally in benchmark yields, rebound in stocks, and diverging central bank expectations are expected to weigh on Yen further. Meanwhile, expected rate Read more…
Monday, Mar 21, 2022 Tuesday, Mar 22, 2022 Wednesday, Mar 23, 2022 Thursday, Mar 24, 2022 Friday, Mar 25, 2022 The post Summary 3/21 – 3/25 appeared first on Action Forex.
Summary United States: Significant Monetary Policy Tightening Ahead In a full week of economic data, Wednesday’s FOMC meeting took center stage. FOMC officials lifted the target range for the federal funds rate by 25 bps. Read more…
U.S. Highlights The U.S. Federal Reserve raised interest rates for the first time since 2018, and signalled it is prepared to raise rates substantially in order to contain inflation. Oil prices were down this week Read more…
With a lack of an obvious catalyst this week, markets will continue to trade off the rate hikes from the FOMC and the BOE. Last week, the FOMC hiked rates by 25bps and noted in Read more…