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Key Highlights AUD/USD started a fresh decline from the 0.6680 resistance. It traded below a key contracting triangle with support at 0.6660 on the 4-hour chart. NZD/USD started a downside correction after a strong increase to 0.6160. The US GDP could grow 1.3% in Q1 2024 (Preliminary), down from 1.6%. AUD/USD Technical Analysis The Aussie […]

The post AUD/USD Signals Fresh Decline, Are Bears Back? appeared first on Action Forex.

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24/01/2024

Trump Wins New Hampshire

In focus today Today, we will get January PMIs for both the euro area and the US. They will be the first indicator on how the major economies performed at the beginning of 2024. In the euro area, the manufacturing PMIs have risen since October in a signal of activity bottoming out in Q4 2023. […]
24/06/2024

EUR/USD Remains At The Edge, Can It Recover?

Key Highlights EUR/USD failed to surpass 1.0765 and declined once again. A major bearish trend line is forming with resistance at 1.0710 on the 4-hour chart. GBP/USD declined heavily and traded below the 1.2680 support. Bitcoin price extended losses and traded below the $64,200 support. EUR/USD Technical Analysis The Euro failed to recover above the […]
08/03/2024

US Payrolls Take Center Stage Today

Markets The ECB left its policy rates and the APP run-down unchanged. In the quarterly forecasts, ECB staff downwardly revised 2024 growth and inflation. Growth this year is expected at 0.6% (vs 0.8% in December), but improvement is still expected in 2025 (1.5%) and 2026 (1.6%). Headline inflation is seen easing further (2.3% from 2.7% […]