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AUDCAD continues to trim gains, reaches key support level Technical picture reflects oversold conditions AUDCAD erased more than half of its October-December upleg to find support around the November 13 low of 0.8755, which overlaps with the 61.8% Fibonacci retracement level of the bullish wave. Both the RSI and the stochastic oscillators hint at oversold conditions, […]

The post AUDCAD Examines Potential Pivot Point appeared first on Action Forex.

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WTI Wave Analysis

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27/08/2024

WTI Crude Oil Wave Analysis

WTI crude oil reversed from a strong support level 72.40 Likely to rise to resistance level 78.00 WTI crude oil recently reversed up from the strong support level 72.40 (which has been reversing the price from the start of June) coinciding with the lower daily Bollinger Band. The upward reversal from the support level 72.40 […]
11/12/2023

GBP/USD – Pound Edges Higher ahead of UK Job Data

UK to release employment report on Tuesday US nonfarm employment payrolls beats forecast and rise to 199,000 The British pound is showing little movement at the start of the week. In Monday’s European session, GBP/USD is trading at 1.2576, up 0.22%. It’s a busy week for UK releases which could translate into volatility from the […]
15/02/2024

GBP/USD: Cable Falls Further After Below-Forecast UK January Inflation

Cable extends weakness into second straight day, initially deflated by stronger dollar on unexpectedly hot US inflation on Tuesday, while today’s softer than expected UK CPI data raised bets for BoE rate cut by June and added pressure on sterling. Wednesday’s drop broke below 200DMA (1.2562) and pressured pivotal Fibo support at 1.2525 (38.2% of […]