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Unlike the Federal Reserve, which opted to leave its monetary policy unchanged, the Bank of Canada cut its interest rate yesterday. According to Forex Factory, as expected by analysts, the Overnight Rate was lowered by 25 basis points from 3.25% to 3.00%. According to Reuters: → The Bank of Canada reduced interest rates to support […]

The post USD/CAD Chart Analysis Following Bank of Canada’s Rate Cut appeared first on Action Forex.

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16/08/2024

S&P 500 index Wave Analysis

S&P 500 index rising inside impulse wave 3 Likely to test resistance level 5570.00 S&P 500 index recently continues to rise inside the impulse wave 3 which previously broke the resistance area located between the strong resistance level 5400.00 (former strong support from the end of July) and the 50% Fibonacci correction of the downward […]
12/01/2024

AUD/USD and NZD/USD Eye Key Upside Break

AUD/USD is moving higher and might rally if it clears 0.6725. NZD/USD is also rising and could extend its increase above the 0.6255 resistance zone. Important Takeaways for AUD USD and NZD USD Analysis Today The Aussie Dollar started a fresh increase above the 0.6680 and 0.6695 levels against the US Dollar. There is a […]
11/12/2024

Between $95K and $100K, Bitcoin Changes Long-Term Holders

Market Picture The cryptocurrency market remained roughly the same as the day before at $3.45 trillion, down 7% from its peak levels at the start of the week. The sentiment index rolled back to 74, in ‘greed’ territory. The altcoin season index has pulled back to 63 from a peak of 87 a week earlier. […]