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USDCAD bounces off 200-day SMA MACD and RSI are still weak USDCAD is moving slightly higher following the rebound off the simple moving averages (SMAs), remaining within a short-term ascending channel. Technically, the MACD oscillator is holding beneath its trigger line and near the zero level, weakening its momentum, while the RSI is pointing marginally […]

The post USDCAD Ticks Higher Within Ascending Channel appeared first on Action Forex.

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07/01/2024

The Weekly Bottom Line: Rate Cut Expectations Ease Slightly at the Start of 2024

U.S. Highlights Minutes from the December FOMC meeting confirmed that monetary policy was “likely at or near its peak” for this tightening cycle, but showed no meaningful discussion on rate cuts. The U.S. economy added a better-than-expected 216k jobs in December, but downward revisions to the prior two months kept a cooling trend intact. The […]
15/04/2024

EUR/USD Takes Hit As Israel-Iran Tension Escalates

Key Highlights EUR/USD started a major decline below the 1.0780 support. It traded below a key bullish trend line with support at 1.0850 on the 4-hour chart. Iran launched more than 300 drones and missiles at Israel in an unprecedented attack late Saturday. Gold prices rallied above $2,400 before there was a sharp downside correction. […]
07/12/2023

BTC and ETH Pause as Altcoins Take the Spotlight

Market picture Cryptocurrency market capitalisation changed little at the end of trading on Wednesday, remaining close to $1.59 trillion (-0.14% d/d). But this modest result is a show of strength, given the pressure in equity markets, which intensified selling in Bitcoin and Ether. Meanwhile, Altcoins got their chance to catch up with the leaders. For […]