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USDCAD unlocks new 4-year high, poised for further gains Caution required as overbought signals detected US retail sales, Canadian CPI due at 13:30 GMT USDCAD has been performing exceptionally well after forcefully breaking a symmetrical triangle on the upside. The pair unlocked a four-and-a-half year high of 1.4279 earlier today, continuing to press toward the […]

The post USDCAD Continues Its Bullish Surge, Eyes 1.4300 Area appeared first on Action Forex.

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18/06/2024

SNB Expected to Cut, But Risk of Disappointment

Expectations of a June cut by the SNB have been gaining traction But inflation picture isn’t entirely favourable; weak franc doesn’t help A lot of uncertainty awaits the SNB’s decision due Thursday at 07:30 GMT Will the SNB cut rates again? The Swiss National Bank (SNB) got the ball rolling with interest rate cuts back […]
24/07/2024

NZDUSD Plunges to New Multi-Week Low

NZDUSD dives almost 4% from the July high of 0.6150 Price may rebound off 0.5875 20- and 200-day SMAs record a bearish cross Momentum oscillators indicate upside correction NZDUSD has been creating an aggressive bearish rally since the break beneath the short-term uptrend line, diving almost 4% after the pullback from the 0.6150 resistance. The pair posted a fresh 12-week low […]
05/01/2024

Gold Price Corrects Gains While Crude Oil Price Aims Higher

Gold price is correcting lower from the $2,088 resistance. Crude oil price is rising and it could climb further higher toward the $75.90 resistance. Important Takeaways for Gold and Oil Prices Analysis Today Gold price failed to clear the $2,088 resistance and corrected lower against the US Dollar. A key contracting triangle is forming with […]