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Key insights from the week that was. In Australia, the RBA’s November Meeting Minutes provided a deep dive into the Board’s baseline views and assessment of risks. Chief Economist Luci Ellis subsequently discussed a number of noteworthy developments, one being the statement that the Board “would need to observe more than one good quarterly inflation […]

The post Cliff Notes: Calm Conditions appeared first on Action Forex.

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Elliott Wave View: GBPUSD is Approaching Support Zone

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15/10/2024

EUR/USD: Increased Downside Pressure Below Daily Cloud

EURUSD dipped to new two month low early Tuesday, remaining under pressure from risk aversion on China’s latest stimulus news and wide expectations of ECB rate cut by 25 basis points on Thursday. After registering a daily close below 1.0944/35 (Fibo 61.8% of 1.0775/1.1214 / daily cloud base / 100DMA) bears now pressure pivots at […]
03/04/2024

Gold Price XAU/USD Sets Another All-Time High

The XAU/USD gold chart today indicates that the price of the metal has exceeded USD 2,250 per ounce. Causes: → Geopolitical tensions. Military conflicts in Ukraine and the Middle East do not subside, the threat of terrorist attacks is growing, and new hot spots may appear on the world map. → Concerns about a new […]
02/09/2024

GBPJPY – Probe Above Pivotal 200DMA Generating Initial Signal of Bullish Continuation

GBPJPY rose to one-month high on Monday and generated initial signal of bullish continuation on probe above the top of month-long range (192.16) reinforced by 200DMA. Firm break here to confirm signal and open way for fresh upside, with immediate target at 194.10 (50% retracement of 208.11/180.09 downtrend), violation of which to unmask next barriers […]