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The Australian dollar is sharply lower on Tuesday. AUD/USD is trading at 0.6732 in the European session, down 0.88% today at the time of writing. Australian GDP expected to remain soft Australia’s economy has been sputtering and the markets aren’t expecting much change from second-quarter GDP on Wednesday. GDP is expected to trickle lower to […]

The post AUD/USD Sinks Ahead of GDP appeared first on Action Forex.

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Short Term Elliott Wave Sequence in GBPJPY Calling Further Upside

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US: Manufacturing Index Shows Contraction Eextends into August 

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07/05/2024

Gold Attempts Recovery to Only Face Limitations Again

Gold stays trapped below 2,325 after Monday’s bounce Technical signals reflect persisting caution Gold had a positive start to the week, bouncing back above its 20-day exponential moving average (EMA), but the bullish attempt was not strong enough to drive the precious metal successfully above the constraining zone of 2,325. This is where the 23.6% Fibonacci […]
19/02/2024

NZD: The Week Ahead

Commerzbank’s analysis suggests a brighter outlook for the New Zealand Dollar (NZD) in the coming months despite recent downward pressure. Factors like broader U.S. Dollar strength and domestic issues have kept the NZD below last year’s highs. However, robust labor markets in both New Zealand and Australia and an expected stabilization of Chinese economic growth […]
14/05/2024

USDX Elliott Wave: Forecasting the Decline from Equal Legs Area

Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of Dollar Index, published in members area of the website. As our members know, USDX has ended the cycle from the December’s 2023 low. The index has recently given us bounce in a 3-wave pattern, when […]