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Short Term Elliott Wave view in Oil suggests that rally from 12.13.2023 low is unfolding as a double three Elliott Wave structure. Up from 12.13.2023 low, wave ((a)) ended at 76.18 and dips in wave ((b)) ended at 72.89. Wave ((c)) higher unfolded as a 5 waves where wave (i) ended at 75.75 and wave […]

The post Oil (CL_F) Rally May Fail for More Downside appeared first on Action Forex.

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20/02/2024

New Fed Call

In focus today This morning we will get the National Accounts for Q4 2023 in Denmark. We expect the numbers to show a sharp rebound in GDP growth to 1.0% q/q in Q4 after the 0.7% decline in Q3. Both the decline and the rebound are driven by industrial production which again is primarily driven […]
12/06/2024

A Meli-Melo of Politics and Economics

We have different moods on different continents this week. The European equities remained under the pressure of heating French political tensions on Tuesday, as the Republican President Ciotto suggested that his party should consider teaming up with Le Pen’s party – a limit that many Republicans still consider as being a thick red line that […]
07/09/2024

U.S. Inflation Print Expected to Tee Up First Fed Interest Rate Cut Since 2020

Headline U.S. inflation for August on Wednesday is expected to fall to 2.5% after dipping below 3% in July for the first time since 2021, setting up the U.S. Federal Reserve to cut interest rates for the first time since 2020. Falling gasoline prices likely accounted for much of that slowing, but we also expect […]