EUR/JPY’s strong rally and break of 131.59 resistance last week confirmed resumption of rise from 127.36. Also, it revived the case that corrective pattern from 134.11 has completed with three waves down to 127.36. Initial Read more…
GBP/JPY’s rebound from 152.88 extended higher last week, but lost momentum after hitting 156.48. Initial bias is neutral this week first. The consolidation pattern from 158.19 could still extend further. On the downside, below 154.46 Read more…
EUR/CHF soared to as high as 1.0515 last week and a medium term bottom should be formed at 1.0298 on bullish convergence condition in daily MACD. Initial bias stays on the upside this week for Read more…
It was a week a surprises. While BoE delivered that a 25bps hike, four of the nine MPC members have indeed voted for a 50bps raise. However, there was no follow through buying as BoE Read more…
Monday, Feb 7, 2022 Tuesday, Feb 8, 2022 Wednesday, Feb 9, 2022 Thursday, Feb 10, 2022 Friday, Feb 11, 2022 The post Summary 2/7 – 2/11 appeared first on Action Forex.
Summary United States: Omicron Not Enough to Crash the Payroll Party This week ushered in a broad range of economic indicators that covered everything from supply chains to the housing market, but needless to say Read more…
U.S. Highlights This week provided the first glance at the economic impact of Omicron, which seems relatively benign compared to previous outbreaks. The poster child of this week is employment, which pulled off an Olympic Read more…
Canada should show a pullback in the merchandise trade balance to a smaller surplus, with both exports and imports ticking lower following a November surge. A drop in oil prices on early concerns about the Read more…
Last week, the RBA, BOE, and ECB all met to discuss interest rate policy. The RBA ended their QE Program, the ECB moved from a dovish stance to a hawkish stance, and the BOE raised Read more…
How aggressively will central banks raise rates? It’s been an incredible couple of weeks in the markets, one in which we’ve seen another hawkish move from multiple central banks, big swings in stocks on the Read more…