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Next week’s Canadian April inflation report will be the last major data release before the Bank of Canada’s next interest rate decision on June 5th. Absent an upside surprise, we think the soft conditions in the economy and labour markets should warrant a 25-bps interest rate cut from the BoC in June. In April, we […]

The post Canadian Inflation Prints to Show Another Step Down in April appeared first on Action Forex.

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15/05/2024

NZDUSD Rallies Beyond Downtrend Line

NZDUSD rises above 200-day SMA too RSI and stochastics suggest more bullish moves NZDUSD is flying above the medium-term ascending trend line and the 200-day simple moving average (SMA), indicating a potential upside recovery. According to the technical oscillators, the RSI is heading north and is approaching the 70 level with strong momentum, while the stochastic is […]
19/12/2023

Ethereum (ETHUSD) Should Find Buyers in 3, 7, or 11 Swing

Short Term Elliott Wave View in Ethereum (ETHUSD) shows that it has ended wave (3) at 2401.18. Pullback in wave (4) is currently in progress as a double three Elliott Wave structure. Down from wave 93), wave (a) ended at 2324.3 and wave (b) ended at 2374.78. Wave (c) lower ended at 2142.28 which completed […]
15/05/2024

Oil Retreating But Unlikely to Repeat Collapses of 2020, 2014 or 2008

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