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AUDUSD sends some encouraging signals But the bulls need to claim the 0.6600 territory US nonfarm payrolls awaited at 13:30 GMT AUDUSD bulls came into action instantly after the price dropped to a more-than-two-month low of 0.6507 to test the ascending trendline from the 2020 low. The pair finished the day with a bullish long-tailed […]

The post Is AUDUSD Set for a Break Higher? appeared first on Action Forex.

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USD/JPY Forms Another Bullish Pattern, US NFP Report Next

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02/07/2024

Australian Dollar Eyes Retail Sales

The Australian dollar has posted slight losses on Tuesday. AUD/USD is trading at 0.6649 in the European session, down 0.15% on the day. Australian retail sales expected to improve Australian consumers have been in frugal mood and have reduced their discretionary spending. Consumers have been squeezed by high borrowing costs and the high cost of […]
24/08/2024

Weekly Economic & Financial Commentary: The Time Has Come for Policy to Adjust

Summary United States: Homes Out of Range Chair Powell delivered a distinctively dovish speech this week at Jackson Hole. Elsewhere, a slew of housing data revealed that, although green shoots are sprouting, affordability issues continue to constrain the housing market. Meanwhile, another decline in the Leading Economic Index was a reminder that recession risks lie […]
03/06/2024

EURCHF Declines Sharply from 14-Month High

EURCHF hits a fresh 14-month high of 0.9928 Before plunging towards the 50-day SMA Momentum indicators turn bearish  EURCHF has been in a steady recovery since late December, attempting to erase its massive 2021-2023 downtrend. Last week, the pair surged to a fresh 14-month peak of 0.9928, but quickly retraced lower until the 50-day simple moving average (SMA) curbed its retreat. […]