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Oil ended the week up over 4%, continuing the rebound that began on 9 April following a strong rally due to tariff postponement. Prices managed to recover from 4-year lows by more than 16%, which is impressive and brings the market closer to bullish territory. However, the situation currently appears more like a rebound before […]

The post Oil Rebound, Not Yet a Trend Reversal appeared first on Action Forex.

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WTI Oil: Strong Weekly Gain Boosts Reversal Signals

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16/04/2025

US Sales Jump Gives USD Relief, But Driven by Fears

US total retail sales rose 1.4% in March, beating the expected 1.3% after rising 0.2% a month earlier. On an annualised basis, sales rose 4.4%, the fastest pace since December 2023, which contrasted with the slowdown in inflation to 2.4% y/y. The acceleration in American spending can be attributed to a desire to stock up […]
18/11/2024

GBP/USD Nosedives While USD/CAD Regains Strength

GBP/USD started a fresh decline below the 1.2750 zone. USD/CAD is rising and might aim for more gains above the 1.4100 resistance. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a major decline from the 1.3000 resistance zone. There is a key bearish trend line forming with resistance at 1.2650 on […]
26/09/2024

Dollar Index Outlook: Remains Firm Ahead of US Economic Data and Speeches from Top Fed Officials

The Dollar Index keeps firm tone early Thursday following 0.7% bounce previous day, on another failure to sustain break below psychological 100 support. The greenback was lifted by headwinds from 100 zone and improving sentiment, as traders’ view on Fed rate outlook turned hawkish despite dissonant tones from the latest speeches of Fed officials. The […]