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Bullish Scenario: Buy above 1.3676 with TP1: 1.3699, TP2: 1.3720, and TP3: 1.3735, with an SL below 1.3665 or at least 1% of account capital. Apply trailing stop. Bearish Scenario: Sell below 1.3665 with TP1: 1.3623, with an SL above 1.3686 or at least 1% of account capital. Fundamental Analysis The BoC has maintained its […]

The post USDCAD: Influence of Linear Regression Channel and BoC appeared first on Action Forex.

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28/05/2024

Euro Area Inflation Unlikely to Change ECB’s Outlook

ECB June rate move looks like a done deal May inflation could open the door to a July rate cut Euro could benefit from a stronger CPI print German CPI on Wednesday, eurozone report on Friday at 09:00 GMT Busy calendar, inflation stands out With the market counting down to next week’s ECB meeting, the […]
21/12/2023

EURUSD Rangebound After Forming a Double Top

EURUSD gets rejected a tad below its recent 4-month peak A failure to claim that level could validate a double top structure Momentum indicators lose steam but remain positive EURUSD experienced a solid correction from its recent four-month high of 1.1016, but the pair managed to erase most of it, following a decisive break above the 200-day simple moving average […]
04/03/2024

A Week Packed with Data and Decisions

You wouldn’t know, by looking at the S&P 500’s performance on Friday, that a US regional bank was having a rough time. Almost a year into last year’s regional bank crisis and about a month after a first post-earnings free-fall, the New York Community Bancorp – a commercial real estate lender in New York – […]