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Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite […]

The post WTI and Brent React To a Key Pivot appeared first on Action Forex.

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27/03/2024

USD/JPY Slides to Lowest Level Since 1990

The Japanese yen has edged higher on Wednesday. In the European session, USD/JPY is trading at 151.17, down 0.26%. Yen falls to 34-year low, will Tokyo intervene? The Bank of Japan raised interest rates last week for the first time since 2007. The move marked a sea-change in monetary policy. However, the tightening has not […]
31/10/2024

USDCAD Wave Analysis

USDCAD reversed from strong resistance level 1.3940 Likely to fall to support level 1.3875 USDCAD currency pair today reversed down from the strong resistance level 1.3940 (which stopped the previous intermediate impulse wave (1) at the start of August). The downward reversal from the resistance level 1.3940 stopped the earlier impulse waves 3 and (3). […]
01/07/2024

Gold Battles with Descending Trendline

Gold trades back and forth in the past few sessions Price fails to claim 50-day SMA and restrictive trendline Momentum indicators are neutral-to-bullish Gold has been under pressure lately following its break below the 50-day simple moving average (SMA). Although the price managed to find its feet at the lower end of the Ichimoku cloud, it has […]