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The Australian dollar is still sideways against the US dollar, trapped in a range for more than a month. However, the price is now moving towards the upper side of thE pattern, suggesting a greater chance that this could be a bullish triangle rather than a deeper corrective move that would take us back to […]

The post Aussie Forming Bullish Triangle, Looking for a Break Higher appeared first on Action Forex.

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18/09/2024

Sunset Market Commentary

Markets Focus this morning briefly turned from this evening’s Fed meeting to tomorrow’s BoE policy decision following August UK CPI data. The report was almost exactly in line with expectations. Headline inflation rose 0.3% M/M and 2.2% (from -0.2% M/M and 2.2% in July). Core inflation reaccelerated to 0.5% M/M and 3.6% Y/Y (from 0.1% […]
30/11/2023

Crypto Market: Another Pullback Within the Framework of Growth

Market picture The crypto market cap fell 0.5% in 24 hours to $1.42 trillion, showing another pullback as part of a broader uptrend that started in mid-October but has slowed in the last couple of weeks. Bitcoin underwent a sell-off on Wednesday afternoon from the upper end of an upward range above $38.4K. Countless times, […]
27/01/2024

Canada’s November GDP to Edge Higher for First Time Since May But Economy Still Looks Weak

The November Canadian gross domestic product (GDP) estimate released on Wednesday will probably tick higher for the first time in six months, but the economic backdrop to end 2023 still looks soft. We expect a 0.1% increase in GDP from October, which would be in line with Statistics Canada’s early estimate a month ago. These […]