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Oil declined for the second day in a row, reversing down from its 200-day moving average for the third time this month. An OPEC+ meeting is scheduled for this weekend with enough potential to break the tie. Oil’s upward trend that started in December stopped in April with an impressive 12% correction. But it failed […]

The post OPEC+ Meeting Could Switch Oil Regime appeared first on Action Forex.

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10/04/2024

NZ Dollar Rises as RBNZ Pauses

The New Zealand dollar has extended its gains on Wednesday and is higher for a third straight day. In the North American session, NZD/USD is trading at 0.6074, up 0.24%. RBNZ holds rates, says economy weak There was little drama from the Reserve Bank of New Zealand’s meeting on Wednesday, as the decision to pause […]
13/08/2024

GBPUSD Battles With 50-day SMA

GBPUSD advances after its bounce off 200-day SMA A potential breach of 50-day SMA could improve outlook Oscillators suggest strengthening positive momentum GBPUSD had been on the rise following its deflection at the 200-day simple moving average (SMA) on August 8. After four consecutive daily green candlesticks, the pair is on track to reclaim its 50-day SMA […]
02/04/2024

Oil Clears Way for Growth Above $90

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 […]