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The Euro keeps firm tone on fading hopes for ECB rate cut, with markets focusing on tomorrow’s release of German inflation data (annualized CPI expected to rise in May). The bull leg off higher low at 1.0805, where 100DMA contained recent pullback, extends into third straight day and pressuring pivotal barriers at 1.0891/95 (Fibo 76.4% […]

The post EUR/USD: Bulls Hold Grip and Eye Key Barriers as Markets Await Release of German CPI Data appeared first on Action Forex.

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27/08/2024

WTI Crude Oil Wave Analysis

WTI crude oil reversed from a strong support level 72.40 Likely to rise to resistance level 78.00 WTI crude oil recently reversed up from the strong support level 72.40 (which has been reversing the price from the start of June) coinciding with the lower daily Bollinger Band. The upward reversal from the support level 72.40 […]
13/12/2023

Gold Eases from Record Highs in 2023

Gold jumped to new highs last week Overall trend remains positive But RSI and stochastic suggest bearish correction Gold prices climbed to a high of 2,144.60 last week before falling. The price has been clearly on an uptrend since October 2022, and the long-term structure of rising highs and rising lows is still in place. […]
08/02/2024

A Modest Sliver Lining for China and Hong Kong Stock Markets

China’s CPI continued to deflate in January to -0.8% y/y from -0.3% y/y in December 2023 while the pace of contraction has slowed slightly in PPI (factory gate prices) to -2.5% y/y from -2.7% y/y in December. The spread of PPI over CPI has widened which in turn may see a turnaround in the current […]