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Oil prices have been hitting five-month highs, and every trading session has been rising since 27 March. The price of a barrel of WTI reached $84.6 at the start of the day on Tuesday before retreating slightly by midday in Europe. To some extent, oil is managing to copy gold, which has also seen a […]

The post Oil Clears Way for Growth Above $90 appeared first on Action Forex.

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02/08/2024

AUDUSD Declines to Fresh 2-month Low

AUDUSD extends retreat to its lowest since May 1 Oscillators are flagging oversold conditions AUDUSD has been in a steady retreat since July 11, violating both its 50- and 200-day simple moving averages (SMAs). Although the pair posted a fresh two-month low on Wednesday, the risk of a bounce to the upside has increased given that the […]
05/04/2024

GBPCHF Wave Analysis

GBPCHF reversed from resistance zone Likely to fall to support level 1.1340 GBPCHF recently reversed down from the major resistance zone located between the resistance level 1.1450 (which has been reversing the pair from last June) and the upper daily Bollinger Band. The downward reversal from this resistance zone continues the active downward impulse wave […]
12/07/2024

Cliff Notes: Shifting Risks and Rhetoric

Key insights from the week that was. The July Westpac-MI Consumer Sentiment Survey confirmed that households remain downbeat, with the headline index falling 1.1% to 82.7. The latest update continues to speak to a challenging context, characterised by a resurgence in anxiety over inflation and fears over further interest rate increases. Indeed, Westpac-MI Mortgage Rate […]