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In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the CADJPY. The rally from the 07 December 2023 low showed a higher high sequence & provided a short-term extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a […]

The post CADJPY Perfect Reaction Higher From Equal Legs Area appeared first on Action Forex.

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05/09/2024

Sunset Market Commentary

Markets The message from the July Fed meeting and even more from Chair Powell’s Jackson Hole address marked a U-turn in the Fed’s assessment. The focus shifted from taming inflation to preventing an unwarranted deterioration of the labour market. Markets are now in the process of finding out how fast the Fed will (have) to […]
28/05/2024

USD/JPY Shrugs as Japan’s Inflation Data a Mix

The Japanese yen continues to drift and showing little movement on Tuesday. USD/JPY is trading at 156.92, up 0.01% on the day at the time of writing. Corporate service prices jumps, BoJ core CPI dips Japanese inflation indicators have been a mix this week. The Corporate Services Price index jumped 2.8% in April, up from […]
18/04/2024

British Pound Shows Signs of Recovery Amid Favourable Inflation Data

The British pound sterling is showing signs of recovery, bouncing back from a five-month low, with GBP/USD stabilising around the 1.2470 mark on Thursday. This rebound is attributed to the release of UK inflation data, suggesting a possible monetary policy easing by the Bank of England (BoE). The UK’s consumer price index (CPI) slowed to […]