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Bullish Scenario: Consider buying at levels 1.3428 or 1.3462 with take profit targets at 1.3990 (TP1), 135.00 (TP2), and 1.3510 in extension (TP3). It is recommended to set a stop loss (S.L.) below 1.3410 or at least 1% of the account capital**. Bearish Scenario: Selling below 1.3460 (waiting for a retracement to the zone) with […]

The post USDCAD: Key Levels to Consider for Further Upside or Deeper Correction appeared first on Action Forex.

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07/05/2024

Yen Rally Fizzles as US Dollar Climbs

The Japanese yen is sharply lower on Monday after stringing together a three-day rally.  USD/JPY is trading at 153.92, up 0.62% at the time of writing. The yen took traders on a roller-coaster ride last week. The Japanese yen fell below the 160 level on Monday, setting another 34-year record before recovering. On Wednesday, the […]
23/05/2024

New Zealand Dollar Rises After Hot Retail Sales Data

The New Zealand dollar is in positive territory on Thursday. NZD/USD is up 0.38%, trading at 0.6120 in the European session at the time of writing. The New Zealand dollar showed some strength after the Reserve Bank of New Zealand rate decision on Wednesday, gaining as much as 1% and hitting a nine-week high. However, […]
14/02/2024

Gold Wave Analysis

Gold under bearish pressure Likely to fall to support level 1975.00 Gold under the bearish pressure after the price broke the key support level 2005.00 (former monthly low from January), intersecting with the 50% Fibonacci correction of the upward impulse from November. The breakout of the support level 2005.00 continues the active daily correction from […]