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S&P 500 reversed from support level 4930.00 Likely to rise to resistance level 5050.00 S&P 500 index recently reversed up from the support level 4930.00 (former support from the end of January), intersecting with the 20-day moving average and the support trendline of the daily up channel from November. The upward reversal from the support […]

The post S&P 500 Wave Analysis appeared first on Action Forex.

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28/08/2024

USDJPY Gets Assistance from 143.40 Support

USDJPY retains bearish bias MACD and RSI try to gain some momentum 23.6% Fibonacci acts as strong resistance USDJPY is continuing its descending movement, especially after the failed attempt to jump above the uptrend line and the 38.2% Fibonacci retracement level of the down leg from 161.94 to 141.60 at 149.50. As the market remains beneath the 23.6% Fibonacci of […]
16/05/2024

AUDUSD Eases After Bullish Spike to 4-Month High

AUDUSD jumps above trading range MACD indicates more gains; but RSI heads south 20- and 50-day SMAs post bullish cross AUDUSD posted a strong bullish day on Wednesday, showing some more upside pressure today, towards a fresh four-month high, exiting from the consolidation area of 0.6390-0.6635. A rally higher until the next resistance level of […]
02/04/2024

EURUSD Gets Set to Go

The slowdown in German inflation is fuelling hopes that the ECB will ease policy in the coming months. German CPI rose 0.4% m/m, weaker than the 0.5% expected. Annual inflation slowed from 2.5% in February to 2.2% in March, the lowest since May 2021. Germany’s reading is a useful guide to what to expect in […]