Market Analysis and Forecasts
May 28, 2024
Major Currencies:
May 28, 2024
Major Currencies:
- EUR/USD: Steady, consolidation expected. Possible upward movement towards resistance at 1.0886 and 1.0925 later in the week if German inflation data meets expectations. Support at 1.0845 and 1.0806.
- GBP/USD: Testing resistance at 1.2755. Possible breakout and further upward movement if bulls regain control. Support at 1.2716 and 1.2677. Lack of US data could favor GBP strength.
- USD/JPY: Trading sideways. BoJ remains cautious on rate hikes. Resistance at 157.69 and 158.37. Support at 156.59 and 155.91.
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