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Key Highlights WTI Crude Oil prices are struggling to clear the $71.20 resistance zone. A connecting bearish trend line is forming with resistance at $70.90 on the 4-hour chart. Bitcoin corrected gains and traded below the $95,000 support. The US GDP could grow 2.8% in Q3 2024 (Preliminary). WTI Crude Oil Price Technical Analysis WTI […]

The post WTI Crude Oil Teeter: Could Another Drop Be Looming? appeared first on Action Forex.

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04/12/2024

Australian Dollar Hits Four-Month Low Amid Weak GDP Data

The Australian dollar fell to a four-month low of 0.6450 against the US dollar on Wednesday, following disappointing GDP data that heightened expectations for potential interest rate cuts by the Reserve Bank of Australia (RBA). The latest GDP figures revealed that Australia’s economy expanded by only 0.3% quarter-over-quarter in Q3, falling short of the anticipated […]
12/07/2024

GBPAUD Wave Analysis

GBPAUD reversed from support level 1.8945, Likely to rise to resistance level 1.3700 GBPAUD currency pair recently reversed up from the powerful support level 1.8945, which has been repeatedly reversing the price from the start of May. The price made numerous Japanese candlesticks reversal patterns near the support level 1.8945 – forming the daily Bullish […]
22/10/2024

Japanese Election Could Hold Key to Next BoJ Hike

Japanese snap election will be held on Saturday, October 27 Governing LDP party vying for another win but outcome uncertain BoJ’s outlook could be clouded if LPD doesn’t achieve majority Yen could suffer if the new government focuses more on fiscal policy Japan holds elections on October 27 Just a few days before the key […]