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Forecasting is hard when even the past does not stand still. Local markets were heavily focused this week on the June quarter national accounts. Our note (PDF 712KB) on the subject highlighted the key points. Foremost amongst these is that despite strong population growth, private sector demand is stagnant. Household consumption went backwards in the […]

The post When the Rear-View Mirror is Foggy, Triangulate appeared first on Action Forex.

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AUDUSD Bounces Off 0.6700 But Looks Weak

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10/07/2024

Bitcoin Strives for Recovery: Will It Overcome Major Roadblocks?

Key Highlights Bitcoin price crashed below the $60,000 and $58,500 support levels. BTC is trading below a key bearish trend line with resistance at $60,500 on the 4-hour chart. Ethereum tested the $2,850 support before there was an upside correction. Gold prices started a downside correction from the $2,392 level. Bitcoin Price Technical Analysis Bitcoin […]
02/01/2024

EUR/GBP Discovers Support Near 0.8650 on Downbeat UK factory Data

EUR/GBP rebounds from 0.8650 on weaker-than-projected UK factory data. The outlook of the UK manufacturing sector remains gloomy due to deepening cost of living crisis. German HICP is seen significantly higher in December. The EUR/GBP pair finds cushion near 0.8650 after the United Kingdom S&P Global Manufacturing PMI data for December failed to meet expectations. […]
06/12/2023

EUR/GBP: Hits New Multi-Month Low, But Oversold Studies Continue to Obstruct Bears

EURGBP fell to three-month low early Wednesday, attempting to resume larger downtrend, after a brief consolidation in past two days. Larger bears regained traction following a double rejection of recovery attempts and received fresh boost from weak German data (factory orders slumped in October and Nov construction PMI fell to the lowest since mid-2020). Bears […]