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WTI futures in a steady advance since early December Posted a fresh 5-month peak before paring some gains Oscillators point to overbought conditions WTI oil futures (May delivery) have been in a slow but constant recovery from their December bottom of 67.97, posting a fresh five-month peak of 86.20 on Wednesday. Meanwhile, the 50-day simple moving average (SMA) is positively closing the […]

The post WTI Futures Surge to a 5-month High appeared first on Action Forex.

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16/07/2024

Gold Nears Record High as Fed Rate Cut Looms

Gold prices have surged, reaching $2430 per troy ounce on Tuesday, flirting with historic highs. The recent spike in gold prices is largely attributed to comments made by Federal Reserve Chairman Jerome Powell, which have bolstered expectations of an impending interest rate cut. In his latest address, Powell highlighted that recent U.S. economic indicators are […]
19/04/2024

Forecast with Elliott Wave Technique Calling EURUSD to Extend Lower

Short term Elliott Wave view in EURUSD suggests that cycle from 12.28.2023 high is in progress as a zigzag Elliott Wave structure. Down from 12.28.2023 high, wave A ended at 1.0694 and rally in wave B ended at 1.098. Wave C lower is in progress as a 5 waves impulse Elliott Wave structure. Down from […]
26/01/2024

Euro in Holding Pattern Ahead of ECB Decision

The euro is showing limited movement on Thursday. In the European session, EUR/USD is trading at 1.0895, up 0.10%. Eurozone PMIs, released on Wednesday, pointed to trouble in the manufacturing and services sectors. Manufacturing has been in deep-freeze, although the January manufacturing PMI improved to 46.6, up from 44.4 and above the consensus estimate of […]