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The Australian dollar has posted sharp losses on Tuesday. In the European session, AUD/USD is trading at 0.6544, down 0.44% on the day. Australian consumer, business sentiment accelerates Australian businesses and consumers are showing improved confidence. The National Bank Business Confidence index for October rose to 55, up from -2 in September and its highest […]

The post Aussie Extends Losses, Wage Inflation Next appeared first on Action Forex.

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03/12/2024

AUDUSD Trapped in a Bearish Formation

AUDUSD struggles below 20-SMA; trend signals are discouraging AZ Q3 GDP could be a market mover on Wednesday at 00:30 GMT AUDUSD kicked off the week on a weak note, failing to break above its 20-day simple moving average (SMA) for the second time, with losses capped near its recent low of around 0.6440. The […]
11/09/2024

Brent Crude oil Wave Analysis

Brent Crude oil broke key support level 72.60 Likely to fall to support level 68.00 Brent Crude oil recently broke the support zone located between the key support level 72.60 (former multi-month support from December) and the support trendline of the daily down channel from July. The breakout of the support level 72.60 accelerated the […]
06/05/2024

Gold Technical: A Floor May Have Been Formed for the Bulls

Stagflation risk is still lingering as indicated by the latest April US ISM Manufacturing and Services PMI data. A not fully priced-in stagflation risk scenario may support another bullish impulsive upmove sequence for Gold (XAU/USD). Watch the key medium-term pivotal zone of US$2,260/2,210 for Gold (XAU/USD). Since our last publication, Gold (XAU/USD) has inched lower […]