The decline in investor expectations regarding a change in the vector of the Fed’s monetary policy contributes to the fall of not only European, but also commodity currencies. So, in recent weeks: AUD/USD has lost more than 200 points and is testing the extremes of 2023 near 0.6400 USD/CAD is trading at three-year highs and […]
The post Commodity Currencies at Strategic Levels. What Can Affect a Breakdown Downwards? appeared first on Action Forex.
Short Term Elliott Wave View on Gold (XAUUSD) suggests that rally from 11.13.2023 low is unfolding as a 5 waves impulse. Up from 11.13.2023 low, wave 1 ended at 2146.79 and dips in wave 2 Read more…
BoC Governor Tiff Macklem, at a Senate committee testimony, indicated that Canada is edging closer to conditions that would allow for easing monetary policy. “The short answer is we are getting closer,” he affirmed. Inflation Read more…
Key Highlights Gold started a downside correction and traded below $2,350. A connecting bearish trend line is forming with resistance at $2,325 on the 4-hour chart. Oil prices extended losses but remained stable above $80.00. Read more…