by OverviewFX | Aug 24, 2024 | Forex
EUR/USD’s rally continued last week and the strong break of 1.1138 resistance argues that larger up trend may be resuming. Initial bias is on the upside this week for t 161.8% projection of 1.0665 to 1.0947 from 1.0776 at 1.1232, and then 1.1274 high. On the downside,...
by OverviewFX | Aug 24, 2024 | Forex
Fed Chair Jerome Powell’s highly anticipated speech at Jackson Hole didn’t disappoint market participants, as he clearly signaled that the time for easing monetary policy has arrived. This declaration provided a notable boost to US stock markets on Friday, with major...
by OverviewFX | Aug 24, 2024 | Forex
USD/JPY gyrated lower last week even though momentum is a bit unconvincing. Still, the development suggests that rebound from 141.67 has completed at 149.35, after rejection by 38.2% retracement of 161.94 to 141.67 at 149.41. Initial bias is on the downside this week...
by OverviewFX | Aug 24, 2024 | Forex
USD/CAD’s steep decline and strong break of 1.3588 support argues that while rise from 1.3176 has completed already. Fall from 1.3946 is seen as another falling leg inside medium term range pattern. Initial bias stays on the downside this week for 1.3477 support. Firm...
by OverviewFX | Aug 24, 2024 | Forex
Summary United States: Homes Out of Range Chair Powell delivered a distinctively dovish speech this week at Jackson Hole. Elsewhere, a slew of housing data revealed that, although green shoots are sprouting, affordability issues continue to constrain the housing...
by OverviewFX | Aug 24, 2024 | Forex
U.S. Highlights Minutes from the July 30-31 FOMC meeting as well as Chair Powell’s speech at Jackson Hole showed a clear commitment that the FOMC will start cutting rates in September. The Fed is likely to start slow, cutting by 25 basis points next month. But any...
