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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 […]

The post Elliott Wave Analysis: USDCAD Turning Upside from Sideways appeared first on Action Forex.

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21/01/2024

Weekly Economic & Financial Commentary: Consumers Just Keep Humming

Summary United States: Consumers Just Keep Humming As market participants continue to digest last week’s slightly hotter-than-expected consumer price data, activity data released this week show underlying demand was still humming along in the final stretch of 2023. Retail sales surprised to the upside and industrial production rose in December. Next week: GDP (Thu.), New […]
18/07/2024

Is AUDCAD Ready to Extend Its Uptrend?

AUDCAD prints higher highs and higher lows RSI and MACD detect positive momentum Break above 0.9260 could signal trend continuation Dip below 0.9125 may allow a decent correction AUDCAD rebounded today from slightly above the support of 0.9270, marked by the low of July 9 and the inside swing high of June 12.  Overall, the […]
13/02/2024

GBP/USD Eyes Bailey, Jobs Report

The British pound is showing limited movement at the start of the week. In Monday’s North American session, GBP/USD is trading at 1.2610, down 0.15%. Bank of England Governor Andrew Bailey will speak at a public event later today and the markets will be listening carefully, looking for hints about the BoE’s future rate path. […]