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GBPJPY marks new higher high; remains restricted Resistance near 198.50; support seen around 196.00 GBPJPY charted a three-month high of 198.42 at the top of a bullish channel, increasing speculation that a new bearish wave could soon start, especially after the close below the 61.8% Fibonacci retracement at 197.35. Technical indicators are showing mixed signals: the stochastic oscillator […]

The post GBPJPY at 3-Month High appeared first on Action Forex.

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09/05/2024

German Industrial Production Slide Brings Closer ECB’s Rate Cut

German industrial production continues to decline. The rate of contraction in March was slightly better than the average forecasts but maintained the downward trend. The index of industrial production fell by 0.4% in March and by 3.3% y/y, having lost in annual terms for the last ten months. German industrial production peaked at the end […]
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Elliott Wave View Calling for S&P 500 (SPX) to Extend Higher

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