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The People’s Bank of China (PBoC) has unveiled a stimulus package aimed at boosting economic growth. Key measures include a cut in the 7-day repo rate, a reduction in the required reserve ratio (RRR), and support for the mortgage market and property sector. Asian and European stock markets have reacted positively to the stimulus as […]

The post China Slashes Rates – Stimulus Package by PBoC Welcomed by Markets appeared first on Action Forex.

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25/07/2024

Elliott Wave Analysis: USDCAD Turning Upside from Sideways

Hello traders, welcome to a new blog post. Today, we will discuss USDCAD as the pair is set to break out of a range that has lasted over two years. How soon can the breakout happen? In May 2021, USDCAD completed a five-year-long bearish corrective cycle that started in January 2016. Since then, the long-term […]
08/10/2024

WTI Wave Analysis

WTI under strong bullish pressure Likely to rise to resistance level 78.3 WTI crude oil under the strong bullish pressure after the price broke the resistance level 71.30 (former strong support from August) intersecting with the resistance trendline of the daily down channel from July. The breakout pf the resistance level 71.30 accelerated the active […]
20/05/2024

Brent Crude Oil Wave Analysis

Brent crude oil reversed from key support level 81.00 Likely to test resistance level 84.00 Brent crude oil recently reversed up from the key support level 81.00 (which has been reversing the price from the start of February) intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from […]