Logo-color Logo-white

WTI futures break above crucial trendline and 50-day SMA Next target is the 61.8% Fibo, which held strong in January Momentum indicators tilt to the positive side WTI oil futures (March delivery) had been on the retreat since their September peak of 95.02, breaking below consecutive support zones. Although the price managed to halt its retreat […]

The post WTI Oil Futures Challenge 61.8% Fibo appeared first on Action Forex.

previous

All Eyes on ECB

next

Foreign Central Banks Take Center Stage

Read More

30/11/2023

AUDJPY Wave Analysis

AUDJPY reversed from resistance level 98.40 Likely to fall to support level 96.00 AUDJPY currency pair recently reversed down from the long-term resistance level 98.40, which stopped the sharp weekly uptrend in the middle of 2022, as can be seen below. The resistance level 98.40 was further strengthened by the upper weekly Bollinger Band. Given […]
23/10/2024

Investors Eye Asset Havens Amidst Continued Unrest in the Middle East

In focus today Today the Bank of Canada announces its October monetary policy decision. Both markets and analysts are leaning towards a 50bp rate cut to 3.75% although it is a close call. Our base case is for a slight hawkish surprise as we pencil in a dovish 25bp cut to 4.0%. Focus in the […]
24/10/2024

Sunset Market Commentary

Markets EUR/USD tested 1.0778 for a second straight session as disappointing French PMI surveys kicked off European dealings. The French composite PMI got stuck deeper in recession territory (47.3 from 48.6) while consensus expected a minor improvement compared to last month (48.9). With the French business surveys however, the worse (European) news was immediately digested. […]