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Bearish scenario: Sell below 0.6597 with TP1: 0.6587, TP2: 0.6579, and TP3: 0.6558, with an S.L. above 0.6611 or at least 1% of account capital. Bullish scenario: Buy above 0.6611 with TP1: 0.6626 and TP2: 0.6646, with an S.L. below 0.6597 or at least 1% of account capital. Apply a trailing stop. Fundamental Analysis The […]

The post Key Factors Influencing AUDUSD: Analysis and Trading Scenarios appeared first on Action Forex.

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27/06/2024

What Could UK General Election Mean for Pound?

UK citizens head to the ballots on July 4 Opinion polls point to a Labour Party victory Political stability could initially benefit the pound But BoE rate cut bets could prove negative in the longer run How it works On July 4, Britons will head to the ballots to vote in a general election, with […]
09/09/2024

Oil: Bears Pause After Last Week’s 7.3% Drop

Oil price ticked higher on Monday and holding within a narrow consolidation, following 1.8% drop on Friday, sparked by disappointing US jobs data. Mild rise in early Monday came from a partial profit taking and signals about potential hurricane system developing above US Gulf. Larger picture shows the oil price in a downtrend which accelerated […]
25/04/2024

AUD/USD: Extended Recovery Attacks Key Resistance Zone Again

Strong rally extends into fourth consecutive day and retests pivotal barriers at 0.6526/29 (converged 200/55DMA’s) which capped attack previous day. Fresh strength offsets for now bearish signal on formation of daily inverted hammer candlestick on Wednesday, left after upside rejection and subsequent pullback. Aussie dollar was boosted by hotter than expected Australia’s inflation and keeps […]