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Market breadth indicators (% of component stocks above 20-day & 50-day moving averages) have increased to above 50%. Short-term bullish momentum condition sighted at the retest of its 50-day moving average. Watch the 19,520 key short-term support ahead of a risk event; the earnings results of Alphabet & Tesla after today’s US session close. In […]

The post Nasdaq 100: Potential Bullish Reversal Looms Ahead of Alphabet and Tesla Earnings Results appeared first on Action Forex.

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EUR/JPY Outlook: Collapses to Five-Week Low on BoJ Rate Hike Signals

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03/03/2024

BoC to Deliver Another Dovish Hold, Unemployment Rate to Tick Higher

The Bank of Canada is widely expected to maintain the overnight rate steady again at its meeting on Wednesday. An announcement on the ending of quantitative tightening is unlikely but we expect that to follow later in April. Over past meetings, the BoC has been gradually and cautiously moving towards a more dovish stance. Language […]
26/06/2024

AUDJPY: Will Price Break Above 107.8 Region?

The Australian dollar (AUD) rallied after surprising inflation data for May came in higher than expected. Australia’s annual inflation accelerated to 4.0% in May, up from 3.6% in April, surpassing the forecast of 3.8%. Core inflation also surged to 4.4%, marking its highest level in six months. The Reserve Bank of Australia (RBA) had already […]
06/03/2024

Dissecting ECB Monetary Policy Decisions Communiqué

The monetary policy decisions statement is released at 13:15 GMT President Lagarde et al could signal a policy shift in this communiqué The ECB staff projections could also hold the key to a rate cut soon The scheduled press conference takes place 30 minutes later Complementing the detailed ECB preview, this report focuses on the first […]