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Markets: Today’s waiting game ahead of the November US manufacturing ISM and Powell’s final public appearance ahead of the blackout period before the December 13 FOMC meeting freed up time to take a look at some of the key asset classes’ November performance. It’s stating the obvious that bonds after three years of mainly gloom […]

The post Sunset Market Commentary appeared first on Action Forex.

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Gold Remains Trapped Below 2,050

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30/08/2024

U.S. Consumers Start Q3 on an Upbeat Note; Income and Spending Rise, Inflation Stable

Personal income grew 0.3% month-on-month (m/m) in July, up from June’s 0.2% gain and above market expectations (0.2%). Accounting for inflation and taxes, real personal disposable income grew 0.1% for a second consecutive month. Personal consumption expenditures growth accelerated in July, up 0.5% m/m. This was higher than the 0.3% recorded in June, but in […]
29/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish continuation towards the 1st support. The 1st support level at 100.67 is identified as a swing-low support that aligns with the 78.60% Fibonacci projection level. Further below, the 2nd support level at 99.62 […]
09/04/2024

SPX Perfect Buying Opportunity At The Blue Box Area

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of SPX. We presented to members at the elliottwave-forecast. In which, the rally from the 05 January 2024 low unfolded as an impulse structure and showed a bullish sequence. Suggested that the index should see more upside extension […]