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The Chinese returned from their Lunar New Year holiday having traveled and spent more this year than before the pandemic. The early trading hours were cheery, but enthusiasm left its place to doom and gloom quickly as the Chinese equities found it hard to extend gains on the back of looming Chinese problems, like deflation, […]

The post China Cuts LPR Rate, RBA Sounds Hawkish – Focus on US Retailer Earnings appeared first on Action Forex.

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GBPAUD Wave Analysis

GBPAUD reversed from resistance level 1.9400 Likely to fall to support level 1.9200 GBPAUD currency pair recently reversed down from the resistance level 1.9400 (which has been repeatedly reversing the pair from the middle of January). The downward reversal from the resistance level 1.9400 created the 3rd consecutive candlesticks reversal pattern Bearish Engulfing. Given the […]
29/05/2024

Will Core PCE Inflation Spur a Less Hawkish Fed?

Hopes that PCE inflation will point to some further moderation But would that be enough for the Fed to ease its hawkish stance? US dollar drifts lower ahead of the crucial data due Friday, 12:30 GMT The stakes are high as Fed meeting approaches After months of hotter-than-expected inflation prints, there was finally some good […]
05/12/2023

Dow Futures (YM_F) Sequence Remains Bullish

Dow Futures (YM_F) shows incomplete sequence from 10.3.2022 low favoring further upside. Rally from 10.3.2022 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from 10.3.2022 low, wave (1) ended at 35228 and dips in wave (2) ended at 32409. Wave (3) higher is in progress as an impulse in lesser degree. […]