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USDCHF consolidates its 2024 uptrend Short-term bias weakens, but a rebound is still possible USDCHF topped twice around February’s high of 0.8884 and the 200-day exponential moving average (EMA), increasing fears that the 2024 upleg might have peaked, especially after the tick below the nearby 0.8780 support region on Thursday. However, the ascending trendline from […]

The post USDCHF Puts 2024 Uptrend in Test appeared first on Action Forex.

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22/12/2023

Canadian Dollar Powers Higher, GDP Next

Friday’s economic releases: Canadian GDP US PCE Price Core Index The Canadian dollar is showing limited movement on Friday. In the European session, USD/CAD is trading at 1.3276, down 0.05%. We could see stronger movement in the North American session, with the release of Canada’s GDP and the US PCE Price Index. The US dollar […]
03/01/2024

Loonie Plunges Ahead of Canadian Jobs Number

Canada’s economy likely added fewer jobs in December Local dollar shows some weakness ahead of Friday’s data due at 13:30 GMT Unemployment rate to rise furhter According to market forecasts, the unemployment rate in Canada increased to 5.8% in November 2023, higher than the 5.7% figure that was recorded in the previous month. The rate reached […]
21/12/2023

NZDUSD Wave Analysis

NZDUSD broke key resistance level 0.6200 Likely to rise to resistance level 0.6360 NZDUSD currency pair under the bullish pressure after breaking the key resistance level 0.6200 (which has been reversing the price from the end of July). The breakout of the resistance level 0.6200 accelerated the active minor impulse wave 1 of the medium-term […]