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All eyes will be on U.S. jobs data on Friday for signs of weakness after the U.S. Federal Reserve kicked off its easing cycle with an outsized 50 basis point cut in September. The Fed took pains to frame the cut (larger than earlier 25 basis point cuts from most other advanced economy central banks) […]

The post U.S. Unemployment Rate Likely Inched Higher in September appeared first on Action Forex.

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11/07/2024

S&P 500 Wave Analysis

S&P 500 broke key resistance level 5500.00 Likely to rise to resistance level 5700.00 S&P 500 Index is under the bullish pressure after the price broke above the key resistance level 5500.00, which stopped the previous waves i and b at the end of June. The breakout of the resistance level 5500.00 continues the active […]
09/01/2024

EUR/GBP Technical: Short-Term Relative Weakness of EUR Reasserts Against GBP

Persistent underperformance of the EUR against GBP as the EUR/GBP cross pair reintegrated below the 200-day moving average. The hourly RSI momentum indicator of EUR/GBP has flashed out a bearish momentum condition. Watch the 0.8615 key short-term resistance with intermediate supports coming in at 0.8550 and 0.8500. In the long term, the EUR/GBP cross pair […]
19/09/2024

Dollar Trades Mixed After Fed Rate Cut

The Federal Reserve surprised the market yesterday by cutting the dollar rate by 0.5%, with expectations that a similar reduction might occur by the end of the year. The dollar initially dropped sharply following the announcement but then partially recovered after comments from Jerome Powell. The Fed Chair stated that the current decision would not […]