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WTI crude oil meets 70.00 level Remains in trading range in short-term Broader outlook is still bearish WTI crude oil prices have seen a notable bullish reaction during yesterday’s session, almost testing the medium-term descending trend line near 70.40. The commodity has battled several times with the diagonal line over the last month, but it is […]

The post WTI Crude Oil Rises Towards Downtrend Line appeared first on Action Forex.

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13/11/2024

Australian Dollar Eyes Employment Data

The Australian dollar is steady on Wednesday. In the European session, AUD/USD is trading at 0.6525, down 0.12% on the day. Australia’s wage inflation within expectations Wage inflation in Australia eased to 3.5% y/y in the third quarter, down from 4.1% in Q2 and just shy of the market estimate of 3.6%. This was the […]
18/04/2024

WTI Wave Analysis

WTI reversed from resistance zone Likely to fall to support level 80.00 WTI crude oil recently reversed down from the resistance zone lying between the resistance level 86.00, upper daily Bollinger Band and the resistance trendline of the daily up channel from December. The downward reversal from this resistance zone started the active minor ABC […]
09/10/2024

Swedish CPI Slightly Higher Than Expected – Supports Our -25 bp Call for November

In focus today Tonight, FOMC will release the minutes from its September meeting. Markets will focus on any clues regarding the expected size of rate cuts aat the coming meetings. Economic and market news What happened overnight The Reserve Bank of New Zealand (RBNZ) lowered interest rates by 50bp from 5.25% to 4.75%, which was […]