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The US Dollar rose this morning as President Elect Trump took aim at BRICS over de-dollarization efforts. The Euro weakens further due to concerns over a potential French government collapse. The Dollar Index shows potential for both upside and downside moves, with key resistance at 107.00 and support at 105.00. The US Dollar kicked December […]

The post DXY’s (US Dollar Index) Rise Amidst Trump’s BRICS Warning and French Uncertainty appeared first on Action Forex.

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15/08/2024

Crude Oil Prices Vulnerable: Is a Fresh Decline on the Horizon?

Key Highlights Crude oil prices struggled to clear the $80.00 resistance zone. A connecting bullish trend line is forming with support at $76.15 on the 4-hour chart. EUR/USD rallied and surpassed the 1.1020 resistance. Bitcoin seems to be facing hurdles near the $61,500 level. Crude Oil Price Technical Analysis Crude oil prices recovered above the […]
20/01/2024

USDCAD Stuck Between Converging SMAs

USDCAD extends its rebound to a fresh 1-month high But does not manage to close above the 50-day SMA Momentum indicators turn positive USDCAD had been staging a solid recovery from its December low of 1.3176, but the 50-day simple moving average (SMA) prevented further gains. Despite the rejection, the 200-day SMA has been acting as a […]
18/01/2024

US Dollar Index Battles With SMAs Near 103.00

US dollar index fails to extend upside move from 100.27 200-day SMA acts as important resistance RSI weakens above 50 The US dollar index is currently struggling to surpass the significant 200-day simple moving average (SMA), which stands near the 103.20 barrier. The market is moving back and forth of the 50- and the 200-day […]