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USDCAD rises after cooler than expected Canadian inflation A break above 1.3605 could signal uptrend continuation For the outlook to turn bearish, a dip below 1.3455 may be needed USDCAD rose yesterday after the Canadian CPI numbers came in lower than expected. However, the pair found resistance near the key barrier of 1.3605 that’s been preventing […]

The post Time for USDCAD to Go for a Higher High? appeared first on Action Forex.

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15/05/2024

U.S. Retail Sales Starts Q2 on a Subdued Note

Retail sales came in flat for the month of April. Additionally, March’s growth was revised downward to a 0.6 % gain (previously 0.7%). The reading was lower than the consensus forecast calling for a modest increase of 0.4% Trade in the auto sector was down -0.8% m/m, reflecting declines both at motor vehicle dealers (-0.8%), […]
10/05/2024

AUDUSD Remains Undecided Near Crucial Technical Region

AUDUSD repeatedly fails to conquer the 0.6643-0.6666 range But outlook is positive as price holds above 50 and 200-day SMAs Momentum indicators deteriorate but remain in positive zones AUDUSD has been in a steady advance since its bounce off the five-month low of 0.6363 in mid-April. Although the pair has been rejected at the 0.6643-0.6666 range […]
02/04/2024

Consolidation Not Going According to Plan

Market picture The crypto market lost 4% in 24 hours, falling to a capitalisation of $2.53 trillion. Bitcoin (-3.7%), Ethereum (-4.5%) and BNB (-3.5%) are all down by the same amount. Solana (-6.4%) and Doge (-7.9%) are lagging the market, not to mention the systematically weak Avalanche (-7% for the day and -17% for 7 […]