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RBA expected to deviate from the Fed and hold rates steady Inflation risks remain a concern; labor market is tight AUDUSD faces resistance near 0.6835; next barrier around 0.6875-0.6900 RBA to keep rates steady  It will be time for the Reserve Bank of Australia (RBA) to announce its rate decision when its policy meeting concludes […]

The post RBA Policy Meeting : It’s Not Time for a Rate Cut Yet appeared first on Action Forex.

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14/10/2024

US 30 Index Celebrates Another Record High

US 30 index strengthens uptrend to all-time high of 42,904 Short-term bias is positive, but the way up may not be straight The US 30 index (cash) hit an all-time high of 42,904 in less than a month on Friday and closed above the constraining line at 42,550, raising confidence that its record rally has more room […]
08/11/2024

EUR/USD Outlook: Bears Hold Grip But Prolonged Consolidation May Precede Fresh Push Lower

EURUSD weakened on Friday after recovery attempts from new multi-month low (1.0682), hit after Wednesday’s post-election 1.7% fall (the biggest daily loss since 19 Mar 2020), failed to clear daily Tenkan-sen (1.0809). Formation of bull-trap pattern on daily chart adds to weak near term outlook as Wednesday’s massive bearish daily candle weighs heavily, technical studies […]
18/03/2024

Gold Retreats from All-Time High

Gold pulls back from its recent record peak Momentum indicators exit overbought conditions Gold experienced a massive surge following its profound break above the 50-day simple moving average (SMA), posting a fresh all-time high of 2,195 on March 8. However, bullion has been undergoing a minor downside correction since then as it had approached extremely overbought conditions. […]