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Wednesday’s U.S. Consumer Price Index data and the Federal Reserve’s interest rate decision will be in focus after the Bank of Canada and European Central Bank cut rates the week before. The Fed is not expected to follow suit—at least not right now. We expect U.S. CPI growth numbers out in the morning before the […]

The post Fed Set to Hold Rates as Inflation and Other Indicators Show Mixed Signals appeared first on Action Forex.

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SILVER (XAGUSD) Buying the Dips at the Blue Box Area

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The Weekly Bottom Line: Labor Market Resilience Highlights Global Policy Rate Divergence

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29/08/2024

Gold Holds Steady: Will It Rise Again? US GDP Next

Key Highlights Gold gained pace and traded above the $2,500 resistance. A connecting bullish trend line is forming with support at $2,495 on the 4-hour chart. Oil prices faced resistance near $78.40 and trimmed some gains. The US Gross Domestic Product could grow by 2.8% in Q2 2024 (Preliminary). Gold Price Technical Analysis Gold prices […]
12/06/2024

NZDCAD Wave Analysis

NZDCAD reversed from support level 0.8400 Likely to rise to resistance 0.8500 NZDCAD currency pair recently reversed up with the daily Piercing Line from the support level 0.8400 (former strong resistance from November, December and May). The support level 0.8400 was strengthened by the nearby 20-day moving average and by the 50% Fibonacci correction of […]
19/07/2024

USD/JPY Turns Red, Can It Start Recovery Wave?

Key Highlights USD/JPY extended losses below the 157.50 support zone. A key bearish trend line is forming with resistance at 157.80 on the 4-hour chart. EUR/USD rallied and tested the 1.0950 resistance zone. Bitcoin could aim for more upsides if it clears the $66,000 resistance zone. USD/JPY Technical Analysis The US Dollar remained in a […]