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USDCAD is reversing south after an unsuccessful push above 2022 highs, so it appears that pair is back in the range after making the first impulsive drop to 1.3450 back in August. Notice that after that drop in A, price rallied in wave (B) as expected, and stoped perfectly at 1.36 area as discussed in […]

The post USD/CAD Can Be Trapped in a Triangle – More Weakness After Completed A-B-C-D-E Waves appeared first on Action Forex.

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06/06/2024

ECB Rate Cut in Sight Today

In focus today Today, focus is on the monetary policy meeting in the ECB. The ECB is widely expected to deliver a 25bp rate cut, largely because the Governing Council members have stated as much. The updated June staff projections are expected to suggest that the prevailing economic and monetary policy narrative stays broadly unchanged, […]
27/12/2023

GBP/USD Seems Primed For More Gains Above 1.2800

Key Highlights GBP/USD is eyeing more gains above the 1.2750 level. A major bullish flag is forming with resistance near 1.2725 on the 4-hour chart. EUR/USD is gaining bullish momentum above the 1.0980 zone. Oil prices could gain pace for a move toward the $78 level. GBP/USD Technical Analysis The British Pound formed a base […]
26/10/2024

Sunset Market Commentary

Markets German Bunds underperformed US Treasuries today. Yields added between up to 2.2 bps, the front end of the curve taking the lead. Yesterday’s PMI’s didn’t deliver a similar September-shocker and even offered a glimpse of hope for the battered German economy. That led some of the more hawkish ECB policymakers to come out of […]