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Markets The three-day Treasury rally morphed into a four-day advance yesterday. The common theme is some worry on (US) growth momentum. It all started last Thursday with downward revisions to Q1 GDP data (especially consumption). Slightly disappointing spending data on Friday, a steeper drop in new orders in the manufacturing sector on Monday and a […]

The post EUR/USD to Hold Below 1.09 Given the Risk of Euro Weakness appeared first on Action Forex.

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09/01/2024

Nasdaq-100 Index Wave Analysis

Nasdaq-100 index reversed from support level 16170.00 Likely to rise to resistance level 16930.00 Nasdaq-100 index recently reversed up from the pivotal support level 16170.00 (former double top from the end of November) intersecting with the 38.2% Fibonacci correction of the upward impulse from November. The upward reversal from the support level 16170.00 stopped the […]
01/12/2023

Swiss Franc Hits 4-month High, GDP Beats Forecast

Swiss franc climbs to 4-month high Swiss GDP rises 0.3% US ISM Manufacturing PMI expected to rise slightly The Swiss franc is lower on Friday. In the European session, USD/CHF is trading at 0.8723, down 0.22%. Swiss franc continues to climb The Swiss franc continues to power higher against a slumping US dollar. USD/CHF has […]
04/06/2024

WTI Wave Analysis

WTI broke key support level 76.70 Likely to fall to support level 72.00 WTI crude oil recently broke the key support level 76.70 (which has been steadily reversing the price from the middle of February). The breakout of the support level 76.70 coincided with the breakout of the 61.8% Fibonacci correction of the previous upward […]