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GBP/USD started a fresh increase above the 1.2625 zone. USD/CAD is declining and trading below the 1.3415 support. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound is eyeing more gains above the 1.2755 resistance. There was a break above a key bearish trend line with resistance near 1.2740 on the hourly chart […]

The post GBP/USD Regains Strength While USD/CAD Dips Again appeared first on Action Forex.

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03/02/2024

Weekly Economic & Financial Commentary: A March Rate Cut Bites the Dust

Summary United States: A March Rate Cut Bites the Dust It was a busy week for economic data, but Friday’s employment report stole the show. Nonfarm payrolls rose 353K in January, almost double the consensus expectation. While we suspect the Federal Reserve will put more weight on the Employment Cost Index’s soft reading on labor […]
17/07/2024

XAU/USD Outlook: Gold Hits New Record High

Gold hit new record high early Wednesday ($2482), following acceleration through former top on Tuesday (metal was up 1.9% for the day, the biggest daily gain since Dec 13). Break above previous all-time high ($2450) signaled an end of corrective phase ($2450/$2286) and continuation of a larger uptrend. Growing expectations for September Fed rate cut, […]
10/05/2024

Gold Price Regains Strength While Crude Oil Price Recovers

Gold price started a fresh increase above $2,320. Crude oil is recovering and might rise toward the $81.20 resistance zone. Important Takeaways for Gold and Oil Price Analysis Today Gold price started a decent increase from the $2,300 zone against the US Dollar. It broke a key descending channel with resistance at $2,315 on the […]