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USDJPY remains below 200-day SMA and uptrend line RSI ticks higher reflecting the latest move USDJPY is gaining some ground after three consecutive red days and losing around 3% from the 149.50 resistance level. The market has been trading beneath the long-term ascending trend line since the downfall at the beginning of August and more […]

The post USDJPY Rises But Still in Negative Territory appeared first on Action Forex.

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XAU/USD Outlook: Gold Price Consolidating Under New Record High, Ahead FOMC Minutes

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19/08/2024

Gold Price Surpasses $2500 for the First Time

We noted bullish sentiment in the gold market six days ago: → The price is moving within an ascending channel (shown in blue); → Bulls may attempt to set a historic record amid the release of economic news. As today’s XAU/USD chart shows, the gold price has risen above the psychological level of $2500. This […]
08/06/2024

Canada’s Unemployment Rate Continued to Rise in May, as Job Gains Lag Population Growth 

The Canadian labour market geared down from its April hiring surge, adding a modest 27k new positions in May. The gain was entirely in part-time jobs (+62k), while full-time employment declined (-36k). The unemployment rate continued its upward trend in May. The unemployment rate rose one tenth from April to 6.2% in May, as 54.5k […]
03/03/2024

European Central Bank Gravitating Toward A Mid-Year Rate Cut

Summary The Eurozone economy faced a particularly challenging period during the second half of 2023, with the region only narrowly avoiding a technical recession. Given the challenging growth environment, the European Central Bank (ECB) ended its tightening cycle with a final 25 bps rate hike in September last year and has, since early 2024, indicated […]