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AUD/USD starts the week fragile, trading at 5½ week lows in the mid-0.66s. The local and international data slate is thin this week, but consequential events loom in late October and early November – Q3 CPI (30 Oct), US Oct payrolls (1 Nov) and the US election and the RBA (both 5 Nov). A stellar […]

The post Aussie Unsettled as US Election Risks Rise appeared first on Action Forex.

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AUD/USD Outlook: Bounce from New Multi-Week Low Needs to Clear Key Barriers to Sideline Larger Bears

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09/05/2024

GBP/USD Bulls Struggle While USD/CAD Regains Strength

GBP/USD declined below the 1.2550 support zone. USD/CAD is rising and might aim for more gains above the 1.3760 resistance. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a fresh decline from the 1.2635 resistance zone. There is a key bearish trend line forming with resistance at 1.2500 on the hourly […]
25/09/2024

Gold Outlook: Bulls Take a Breather, Dips Likely to Be Shallow and Find Ground Above Key 2,600 Support

Gold edged lower from new record high ($2670) early Wednesday, taking a breather after advancing 1.10% on Tuesday, lifted by weaker dollar on expectations that the Fed may continue with stronger rate cuts. People’s Bank of China decision to cut rates, prompted Chinese investors into safe haven, adding support to metal’s price. Strongly overbought daily […]
17/10/2024

GBP Price Action Ideas: GBP/USD, GBP/JPY and EUR/GBP

The GBP has been declining against the USD due to softer-than-expected UK economic data, leading to expectations of more aggressive rate cuts by the Bank of England. GBP/USD is at a crucial level of 1.3000, a break below which could lead to further downside. GBP/JPY is showing signs of a potential breakout, with price coiling […]