Logo-color Logo-white

USDCAD lacks strength but holds near key support zone Short-term bias looks neutral USDCAD has been facing difficulties in printing new higher highs for more than a week now, shifting to the sidelines to trade around 1.3480. The technical indicators are mirroring the absence of buying interest, with the RSI easing towards its 50 neutral mark and […]

The post USDCAD Uptrend Loses Power appeared first on Action Forex.

previous

NZ First Impressions: Retail trade, December Quarter 2023

next

Up Go Stocks, Down Go Bonds

Read More

28/12/2023

USD/JPY Price Analysis: Declines to five-month low, trades near 140.80

USD/JPY moves below the 141.00 psychological level on the back of the subdued US Dollar. A firm break above the 142.00 level could lead the pair to reach a nine-day EMA at 142.41. Technical indicators suggest a bearish sentiment to test the major support at 140.50. USD/JPY extends its losses as the US Dollar (USD) […]
19/11/2024

Canadian Inflation Jumps Higher in October

Headline CPI inflation increased in October to 2.0% year-on-year (y/y), above expectations for a 1.9% y/y print and up from the 1.6% y/y reading from September. The acceleration was due to base-year effects on gasoline prices (the impact of price changes from a year ago falling out of the data), which were down 4.0% y/y, […]
23/10/2024

EURGBP Wave Analysis

EURGBP reversed from key support level 0.8315 Likely to rise to resistance level 0.8375 EURGBP currency pair recently reversed up from the key support level 0.8315 (which reversed the pair multiple times in September) standing close to the lower daily Bollinger Band. The upward reversal from the support level 0.8315 created the daily Japanese candlesticks […]