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Short Term Elliott Wave in S&P 500 (SPX) suggests the rally from 4.20.2024 low is in progress as an impulse. Up from 4.20.2024 low, wave 1 ended at 5341.88 and pullback in wave 2 ended at 5191.68. Internal subdivision of wave 2 unfolded as a double three Elliott Wave structure. Down from wave 1, wave […]

The post Elliott Wave Intraday Analysis: S&P 500 (SPX) Sequence Remains Bullish appeared first on Action Forex.

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12/12/2023

USD/JPY, GBP/USD, EUR/USD Analysis: European Currencies in Consolidation Phase, Yen Declining

Better-than-expected US labour market data contributed to a sharp rise in the dollar against the yen and commodity currencies. At the same time, the euro and pound fell slightly, while managing to remain above strategic levels. USD/JPY The Japanese currency rose sharply last week as information emerged that the Bank of Japan may soon end […]
13/03/2024

Nikkei (NKD_F) Elliott Wave View: Reacted from the Blue Box

Nikkei NKD_F ended an impulse structure at 40565 high and we called wave 3 and the index started a wave 4 pullback. Down from wave 3, wave (i) ended at 40315 and wave (ii) ended at 40465. Wave (iii) lower ended at 39665. Rally in wave (iv) ended at 39895. The market resumes lower in […]
08/02/2024

A Modest Sliver Lining for China and Hong Kong Stock Markets

China’s CPI continued to deflate in January to -0.8% y/y from -0.3% y/y in December 2023 while the pace of contraction has slowed slightly in PPI (factory gate prices) to -2.5% y/y from -2.7% y/y in December. The spread of PPI over CPI has widened which in turn may see a turnaround in the current […]