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Nasdaq reversed from support zone Likely to rise to resistance level 19135.00 Nasdaq index recently reversed up from the support zone located between the key support level 18500.00, lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from August. The upward reversal from this support zone created the daily Japanese candlesticks […]

The post Nasdaq Wave Analysis appeared first on Action Forex.

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31/01/2024

EURJPY: With Bullish Reversal and Target at Breakout of 161.00

Bullish Scenario: Buying above 160.00 (expecting a pullback to this zone) with TP1: 160.62 (uncovered POC*), TP2: 160.81, and TP3: 161.00 on an intraday basis. It is recommended to set a stop loss (S.L.) below 159.82 or at least 1% of the account capital**. Bearish Scenario: Selling below 160.25 with TP1: 160.00, TP2: 159.82, and […]
20/01/2024

BoC to Hold Interest Rates Steady Again Next Week

The Bank of Canada is widely expected to hold the overnight rate steady at 5% in the first policy decision of 2024 – extending a pause that started following the last hike in July. The statement and press conference that follows will be watched closely for hints about how much longer the central bank expects […]
09/01/2024

Brent is Stressed Again

For the last month and a half, the crude oil market has been under a constant stress. Sentiment changes mostly because of the supply and demand forecasts. A Brent barrel price dropped to 75.65 USD yesterday. The decline was triggered by the decision of Saudi Arabia to decrease prices for its buyers starting February, regardless […]