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Following its decision on 7th May, the Reserve Bank of Australia (RBA) opted to maintain the interest rate at 4.35%, despite inflation continuing to decrease at a slower pace than anticipated by the RBA. “I think we still think they’re reasonably balanced with perhaps a little bit of a signal that we need to be […]

The post AUD/USD Analysis: Aussie Weakens After RBA Decision appeared first on Action Forex.

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11/04/2024

USD/JPY Rises to Highest Since 1990

This morning the USD/JPY rate is around 153.20 yen per US dollar, which was facilitated by a sharp strengthening of the dollar against the backdrop of news about inflation in the United States. Thus, the yen weakened to levels last seen in mid-1990. At the same time, an important event occurred — a bullish breakdown […]
02/07/2024

EURCAD Wave Analysis

EURCAD reversed from support zone Likely to rise to resistance level 1.4780 EURCAD recently reversed up with the daily Hammer from the support zone located between the key support level 1.4580 (which has been reversing the price from the start of April) and the lower daily Bollinger Band. The upward reversal from this support zone […]
17/07/2024

Platinum (PL) Looking to Extend Higher

Platinum (PL) is still looking to resume the next bullish cycle. The metal still needs to break above 1348.2 to confirm that the next leg higher has started. Below we updated the Monthly and Daily Elliott Wave chart for the metal. Platinum (PL) Monthly Elliott Wave Chart Monthly chart of Platinum above shows Grand Cycle […]