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The slowdown in U.S. inflation and a cooling labour market have rekindled investor confidence that the Federal Reserve may soon begin cutting interest rates. As bearish sentiment towards the dollar dominates the market, key currency pairs have approached critical levels, the breach of which could spark new medium-term trends. GBP/USD Technical analysis of GBP/USD suggests […]

The post Pound Near July Highs: What Could Trigger a Breakout? appeared first on Action Forex.

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05/09/2024

GBPJPY Continues Selling Interest Below 190.00

GBPJPY stands beneath 200-day SMA Momentum oscillators look neutral-to-bearish GBPJPY has been in a considerably descending movement, losing around 3% after it topped at 193.50. The market is currently testing the 188.00 round number with the technical oscillator confirming strong bearish tendency in the short-to-medium-term view. The stochastic plunged into the oversold territory with strong […]
11/04/2024

DAX Looking to Do Double Correction

Cycle from 10.23.20223 low in DAX is in progress as an impulse Ellliott Wave structure. Up from there, wave 1 ended at 17003.28 and wave 2 pullback ended at 16345.02. The Index rallied higher again in wave 3 towards 18567.16. Pullback in wave 4 is currently in progress as a double three Elliott Wave structure. […]
10/05/2024

Canada’s Labour Market Explodes Higher in April

The Canadian labour market gained 90.4k positions in April, with full-time employment up 40.1k and part-time employment up 50.3k. The unemployment rate was unchanged at 6.1% and the participation rate rose 0.1 percentage point to 65.4%. Employment by sector showed gains in professional, scientific and technical services (+26k), accommodation and food services (+24k), health care […]