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AUDUSD stands at the front foot on Monday and extends advance into third straight day, pressuring pivotal barrier at 0.6680 (recent range ceiling). Fresh strength further improves near term outlook, boosted by positive signal from formation of a higher base at 0.6590 (May 24/30 double-bottom), which signaled a healthy correction from 0.6714 (May 16 top, […]

The post AUD/USD: Bulls Regain Control After a Healthy Correction appeared first on Action Forex.

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03/04/2024

All Eyes on Euro Area Inflation

In focus today In the US, March ADP private sector employment and ISM Services are due for release. Yesterday’s labour market data supported the notion of labour markets gradually becoming more balanced. Hence, it will be interesting to see if today’s data corroborates this view. In the euro area, today’s focus is on euro area […]
08/05/2024

EURJPY Flirts With 167.00 Again

EURJPY recoups previous losses Rebounds off ascending trend line Surpasses short-term SMAs Oscillators gain momentum EURJPY is flirting with the 167.00 round number after the bounce off the long-term rising trend line and the 164.00 handle. The pair has been developing within an upward tendency since the beginning of December with no violations of the […]
23/05/2024

Gold: Hawkish Fed Minutes Further Weaken Near-Term Sentiment

Gold price remains in red for the third straight day and fell to the lowest since May 15 during early European session on Thursday, in extension of Wednesday’s 1.75% drop. Fed minutes, released late Wednesday, showed that the US central bank believes that inflation will cool further over the time, but left the door open […]