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US 30 index retains bullish outlook above uptrend line Technical oscillators indicate more gains The US 30 (cash) index is traveling slightly below the all-time high of 38,782 and above the medium-term rising trend line, suggesting a potential move to the upside again. Given the current positive momentum, the question now is whether the index […]

The post US 30 Index Flirts With All-Time High appeared first on Action Forex.

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17/09/2024

Crude Oil Prices Recovery Begins: Can It Sustain?

Key Highlights Crude oil prices started a recovery wave from the $65.50 support. A major bearish trend line is forming with resistance at $72.50 on the 4-hour chart. Gold consolidated gains after trading to a new all-time high above $2,580. EUR/USD regained traction for a move above the 1.1100 level. Crude Oil Price Technical Analysis […]
08/02/2024

NZD/USD Rate Recovering from Its Low of the Year amid News from Labour Market

Yesterday’s news showed that New Zealand’s labour market is stronger and more resilient than expected. In the fourth quarter of 2023, employment grew by 0.4% in the fourth quarter (forecast = +0.3%, quarter earlier = -0.1%). The unemployment rate is 4%, forecast = 4.3%. A strong labour market indicates a margin of safety in the […]
08/06/2024

Weekly Focus – ECB in No Rush to Commit to Further Ccuts

The ECB delivered the widely anticipated first 25bp rate cut but kept its forward-looking guidance vague. Lagarde noted there was a ‘strong likelihood’ the ECB would dial back the restrictiveness of their monetary policy going forward but was not ready to pre-commit or even discuss the possible timing of the next cut. The updated economic […]