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Summary The Bank of Japan (BoJ) sprung a mild surprise at today’s announcement, raising its policy rate to around 0.25%, from around 0% to 0.1% previously. The BoJ also said it would reduce the pace of its bond purchases to around ¥3T per month by early 2026. The BoJ’s accompanying comments leaned hawkish in tone, […]

The post Bank of Japan Hikes Rates Further, Slows Bond Buying appeared first on Action Forex.

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22/08/2024

GBPUSD Wave Analysis

GBPUSD broke key resistance level 1.3040 Likely to reach resistance level 1.3040 GBPUSD currency pair recently broke above the key resistance level 1.3040 (previous monthly high from the middle of July). The breakout of the resistance level 1.3040 accelerated the active short-term impulse wave 3 of the higher order impulse wave (C) from the end […]
29/03/2024

S&P 500 (SPX) Looking to Complete 5 Waves Impulse

Short Term Elliott Wave view in S&P 500 (SPX) suggests cycle from 1.6.2024 low is in progress as a 5 waves impulse. Up from 1.6.2024 low, wave ((i)) ended at 4931.09 and pullback in wave ((ii)) ended at 4845.15. Wave ((iii)) higher ended at 5187.78 as the 30 minutes chart below shows and pullback in […]
11/03/2024

Technical Outlook and Review

DXY: The DXY (Dollar Index) chart reflects bullish momentum, indicating a possible bullish rebound near the pivot level and subsequent movement towards the 1st resistance. The pivot at 102.62 acts as significant overlap support, suggesting potential buyer intervention for a bullish bounce. The 1st support at 101.93 reinforces this pattern. On the resistance side, the […]