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Key Highlights GBP/USD is aiming for more gains above 1.2750. A key bullish trend line is forming with support at 1.2600 on the 4-hour chart. Gold prices are accelerating higher above the $2,025 resistance. The US GDP could grow 5% in Q3 2023 (Preliminary), up from 4.9%. GBP/USD Technical Analysis The British Pound started a […]

The post GBP/USD Eyes Additional Gains, US GDP Next appeared first on Action Forex.

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22/02/2024

Crude Oil Price Fails Again at $78.80, Are Dips Supported?

Key Highlights Crude oil prices failed again to clear the $78.80 and $79.20 levels. It traded below a major bullish trend line with support at $77.65 on the 4-hour chart. Gold prices could gain bullish momentum above $2,032. The US Manufacturing PMI could remain stable at 50.5 in Feb 2024 (Preliminary). Crude Oil Price Technical […]
19/03/2024

Canada: Inflation Surprises With a Downtick in February

Headline CPI inflation moved slightly lower in February to 2.8% year-on-year (y/y), against expectations for an uptick. Softer inflation at grocery stores was part of the story in February. Grocery price increases cooled from 3.4% y/y in January to 2.4%. This marks the first time since 2021 that grocery inflation was below headline inflation. In […]
17/06/2024

US 500 Index Eases After the Climb to New High

US 500 index calms near the 261.8% Fibonacci extension level RSI and Stochastics are flattening The US 500 (cash) index has been moving with weak momentum over the last couple of sessions after the surge towards a new record peak of 5,449.73, holding near the 261.8% Fibonacci extension level of the up leg from 4,924 […]