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GBPCAD bounces off uptrend line But strength of rebound is in question 20-day SMA is nearest challenge for the bulls GBPCAD has rebounded back above the 50-day simple moving average (SMA) after a 2% correction in June took the price below it towards the upper ascending trendline that’s been in place since the autumn of […]

The post GBPCAD Uptrend Intact After Latest Correction appeared first on Action Forex.

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03/01/2024

GBP/USD Retreats From Highs, USD/CAD Grinds Higher

GBP/USD declined below the 1.2715 support zone. USD/CAD is rising and might aim for more gains above the 1.3330 resistance. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a fresh decline below the 1.2715 support zone. There is a key bearish trend line forming with resistance near 1.2680 on the hourly […]
21/05/2024

Metals Shine

The week kicked off with quite a solid appetite, especially for commodities. Gold advanced to a fresh record and traded at $2450 per ounce yesterday despite a further rebound in US yields after more Federal Reserve (Fed) members voiced their preference for keeping the rates ‘high for longer’. Loretta Mester said that she no longer […]
12/10/2024

Week Ahead – ECB Headed Towards Another Cut, CPI on the Agenda Elsewhere

The ECB is expected to deliver its first back-to-back rate cut on Thursday CPI data incoming in Canada, China, Japan, New Zealand and UK China GDP and US retail sales also high on investors’ radar Is an ECB rate cut a done deal? Following the RBNZ, which cut interest rates by 50 basis points this […]