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On 21 June, we wrote that the trend in the market was weakening, noting that: → Forecasts of a hotter summer, published during April-May, led to a sustained bullish trend in the natural gas market. → According to the technical analysis of the 4-hour XNG/USD chart and the signs of weakness that have formed on […]

The post Natural Gas Finds Support. But for How Long? appeared first on Action Forex.

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WTI Outlook: Oil Price Rises on Growing Geopolitical Tensions But Still Holding Under Key Resistances

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USDJPY Struggles to Reclaim 20-Period SMA

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30/07/2024

USDJPY Wave Analysis

USDJPY reversed from support level 151.95 Likely to rise to resistance level 155.00 USDJPY currency pair recently reversed up from the powerful support level 151.95 (former major resistance from 2022 and also the yearly high from last year), standing close to the 50% Fibonacci correction of the upward impulse from 2023. The upward reversal from […]
02/08/2024

July Employment: That Was Sahm Jobs Reports

Summary The ongoing deterioration in the jobs market was on full display in the July Employment report. Nonfarm payrolls posted the second smallest gain in 3.5 years with an increase of 114K, average hourly earnings growth eased to 3.6% year-over-year and the unemployment rate jumped to 4.3% from 4.1% in June. The landfall of Hurricane […]
09/01/2024

Canada’s Trade Accounts Register a $1.6 Billion Surplus in November

Canada’s merchandise trade surplus notched its fourth consecutive month in black ink. However, November’s surplus narrowed to $1.6 billion as imports rose and exports edged lower. This comes after October’s surplus was revised upward to $3.2 billion. Exports fell slightly by 0.6% month-on-month (m/m) in November, the first decline in four months. The contribution to […]