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US 500 index is in the red again today Correction underway since touching the 4,796 high Momentum indicators support the current bearish move The US 500 cash index is trying to record its sixth consecutive red candle, starting 2024 in a rather negative note. The current correction could gain further traction if the data releases […]

The post Could US 500 Cash Index Correction Have Legs? appeared first on Action Forex.

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19/04/2024

EURJPY Wave Analysis

EURJPY reversed from resistance level 164.00 Likely to fall to support level 163.85 EURJPY currency pair recently reversed down from the pivotal resistance level 164.00, which has been reversing the price from last month. The resistance level 164.00 was strengthened by the nearby upper daily Bollinger Band, as you can see below. Given the strength […]
30/04/2024

USD/JPY Stabilizes After Roller-Coaster Monday

The Japanese yen is lower on Tuesday. In the European session, USD/JPY is trading at 156.88, up 0.34%. It has been a relatively quiet day for the yen after massive movement over the past two days. On Friday dollar-yen jumped 1.7% and broke above 158, but the real drama unfolded on Monday, when the yen […]
26/03/2024

GBP/USD: Bulls Gaining Traction After Double Rejection at 200-DMA

Cable remains constructive in early Tuesday’s trading, after it was lifted by better than expected UK data on Monday and fading expectations for BOE rate cut in May. Fresh recovery was also underpinned by a double downside rejection at 200DMA (1.2591) on Fri/Mon however, bearishly aligned daily studies (momentum indicator is in the negative territory […]