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We went from ‘the Federal Reserve (Fed) could hardly cut in September’ to ‘it would be a mistake not to cut in July or September’ (source: Mohammad El Erian’s Linkedin feed) in a blink of an eye. Everything seems upside down since last week. The Big Tech stocks that have been rallying relentlessly since the […]

The post Rotation Continues, But Europe Doesn’t Benefit appeared first on Action Forex.

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Elliott Wave Intraday Analysis: CHFJPY Bouncing Higher from Support Zone

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USDCAD Eases After Aggressive Rally to 1.3845

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08/07/2024

Second Round of French Legislative Election Brought New Surprises on the Table

The second round of French legislative election brought new surprises on the table – to say the least. Not only Marine Le Pen’s far-right National Rally didn’t win a majority but the New Popular Front – which is a leftist coalition led by the far-left Jean Luc Melonchon – secured the biggest share of the […]
03/09/2024

USDJPY Wave Analysis

USDJPY reversed from support level 144.00 Likely to rise to resistance level 149.35 USDJPY currency pair recently reversed up from the strong support level 144.00 (which has been reversing the price from January) standing near the lower daily Bollinger Band. The upward reversal from the support level 144.00 created the daily Japanese candlesticks reversal pattern […]
30/07/2024

AUD/USD Outlook: Holds in Extended Consolidation Above Strong Supports

AUDUSD remains in extended consolidation around the base of thick daily cloud (0.6538), and above pivotal Fibo support at 0.6528 (61.8% of 0.6362/0.6798), following a steep fall in past nine days. Bears are taking a breather on stretched daily studies, but remain in play (strong negative momentum, MA’s in full bearish configuration and creating a […]