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UK 100 index reaches 8,000 milestone But further gains may have to wait as uptrend starts to lose steam The UK 100 stock index (cash) closed at a new all-time high of 8,046.44 on Monday and climbed to an intra-day record of 8,077.25 earlier today. But whilst another record close is possible in the near […]

The post UK 100 Index Hits New All-Time Highs But Rally May Be Cooling appeared first on Action Forex.

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26/03/2024

Technical Outlook and Review

DXY: Potential Direction: Bullish Overall momentum of the chart: Bullish Price could potentially make a Bullish bounce off pivot and head towards 1st resistance Pivot: 104.16 Supporting reasons: Acts as an Overlap support and aligns with a 23.60% Fibonacci Retracement, providing a strong base for potential upward movements. 1st support: 103.92 Supporting reasons: Offers Pullback […]
08/03/2024

Sunset Market Commentary

Markets It’s as if some ECB members were inspired by yesterday’s comment by Fed Chair Powell that the US central bank is not far from being confident that the time is right to start dialing back the level of policy restriction. After Fed members recently closed ranks on a first rate cut in June, he […]
08/01/2024

USD/JPY Technical: US Dollar Strength Fizzled Out Ex-Post US NFP

Last week’s broad-based US dollar strength has dissipated ex-post US non-farm payroll data with the continuation of its underperformance against the GBP. The US labour market has started to show growing slack where the labour force participation rate has dipped to 62.5%, its largest monthly decline in almost three years and full-time unemployment recorded its […]