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Equity selloff in Europe and US extended on Thursday. Technology stocks suffered the biggest losses after Microsoft and Meta – which represent nearly 10% of the S&P500 index – were hit by a 6% and a 4% decline respectively. The S&P500 closed 1.86% down – a touch above its 50-DMA – and Nasdaq 100 dived […]

The post Amazon Beats, Focus on US Big Oil and Jobs Data appeared first on Action Forex.

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05/01/2024

EURAUD Wave Analysis

EURAUD reversed from support level 1.6155 Likely to rise to resistance level 1.6465 EURAUD recently reversed up from the key support level 1.6155 (which reversed the price multiple times from the middle of December). The support level 1.6155 was strengthened by the lower daily Bollinger Band and by the support trendline of the weekly down […]

USDCAD Marks Bullish Wave in Short-Term

USDCAD meets 20-day SMA Technical signals mixed; downtrend well intact USDCAD has been rising since the end of 2023 after the bounce off the 1.3175 support level and is currently reaching the short-term 20-day simple moving average (SMA) near 1.3373, but is still developing beneath the descending trend line. The MACD and the RSI are […]
07/05/2024

EURUSD Returns Within a Sideways Range

EURUSD returns within range between 1.0725 and 1.0930 MACD and RSI detect a lack of directional momentum For the bears to recharge, a break below 1.0725 may be needed The outlook may turn bullish if the price breaks above 1.0930 EURUSD has been in a recovery mode since April 16 when it hit support near […]