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In the last years, the renminbi made a pause in his attempt to get stronger against USD dollar. In February 2014, renminbi found support at 6.0153 as wave ((III)) and from there it made a perfect zig – zag correction structure to equal legs at 7.1964 high in September 2019. After these 3 swings, USDCNH […]

The post Buyers Still in Control on Renminbi (USDCNH) appeared first on Action Forex.

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13/02/2024

NZD/USD Dips Despite Hawkish RBNZ

RBA’s Orr says high rates still needed New Zealand releases inflation Expectations on Tuesday The New Zealand dollar is lower on Monday. In  the European session, NZD/USD is trading at 0.6127, down 0.35%. The New Zealand dollar ended the week on a high note, gaining 0.86% against the US dollar on Friday. RBNZ’s Orr says […]
01/12/2023

Top Three Trade Ideas for December 2023

Hey folks, it’s a wrap to yet another month in the 2023 calendar, and I’m guessing you know what that means – time for another episode in the “What To Trade” series. For December, I will be mapping out trade more cautiously as the market volatility often drops massively, causing the markets to slow down […]
23/04/2024

Australian Dollar Rises on Strong Economic Indicators

The AUD/USD pair is experiencing upward momentum for the second consecutive day, reaching a one-week high near 0.6453 on Tuesday. This positive movement comes after a period of rapid decline and is supported by encouraging economic data from Australia. The latest manufacturing PMI report for April significantly contributed to the Australian dollar’s appreciation. It showed […]