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WTI futures attempt to break above crucial trendline  But their advances are constantly held down  Momentum indicators suggest a cautiously positive tone WTI oil futures (February delivery) have been on the retreat since their October peak of 89.85, breaking below consecutive support zones. Although the price has been trying to recover some ground in the last few sessions, the downward […]

The post WTI Oil Futures Battle With Descending Trendline appeared first on Action Forex.

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06/12/2023

GBP/USD: Cable – Limited Correction Likely to Precede Fresh Rise, US Labor Data in Focus

Cable is holding within a tight range on Wednesday morning, as two-day pullback found a footstep on broken Fibo support at 1.2585, though stronger dollar and weaker than expected UK data continue to sour the sentiment. Traders await release of US labor data (ADP report is due later today and NFP on Friday) for fresh […]
06/09/2024

The Data that Could Tip Fed’s Hand

Risk appetite got another hit yesterday after the US ADP report printed a weaker-than-expected number. The data suggested that the US economy added only 99K new private jobs last month, significantly less than 144K pencilled in by analysts, and lower than last month as well, even after the downside revision of last month’s figure to […]
23/07/2024

GBP/USD Sees Pullback But Key Support Intact

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