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Canadian economy set to return to growth but remain sluggish Will the Loonie be able to capitalize on any good news? Canadian economy to avoid recession once again The Canadian dollar has barely made any serious progress against other major currencies this year besides the battered Japanese yen. Canadian Q4 GDP data may not come to the rescue on Thursday to […]

The post Canada’s GDP to Rebound But Not the Loonie appeared first on Action Forex.

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03/05/2024

WTI Futures Break Below 200 Day-SMA

WTI futures retreat below both 50 and 200-day SMAs Violate ascending channel in place since November Oscillators approach oversold conditions WTI oil futures (June delivery) had been in a steady uptrend since December, posting a fresh six-month peak of 86.90 on April 12. However, the price has been undergoing a pullback since then, dropping beneath both its 50- and […]
25/01/2024

USDJPY Dives Near 61.8% Fibonacci

USDJPY fails to surpass 148.50 resistance Rebounds off 140.20 still intact However, RSI and MACD suggest negative correction USDJPY has been struggling to surpass the 148.50 resistance level over the last five days after the upward movement from the 140.20 support level. The pair is still holding above the 61.8% Fibonacci retracement level of the […]
20/02/2024

XAU/USD: Gold Extends Recovery Despite Sticky US Inflation

Recovery leg from $1984 (9-week low of Feb 14) extends into third straight day after short-lived probe below psychological $2000 level was contained by 100DMA and Morning Doji Star reversal pattern formed on daily chart. Although the metal’s price gained pace and established above $2000, caution is still required as 14-d momentum is still in […]