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In focus today Today, we should finally get actual numbers on China’s fiscal stimulus as the meeting in the Standing Committee of the National People’s Congress ends. In the US, the University of Michigan’s flash consumer sentiment survey is due for release. Economic and market news What happened yesterday In the US, the Fed unanimously […]

The post China to Unveil Fiscal Stimulus Package appeared first on Action Forex.

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USDCAD Retains Bullish Bias Above 20-day SMA

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04/06/2024

Nasdaq 100: Bullish Reversal Remains Intact Supported by Positive Momentum in 10-year T-Note Futures

Macro factor (10-year US Treasury yield) has likely taken over the driver’s seat in dictating the short to medium-term directional movements of the major US stock indices. Last Friday, 31 May key intraday bullish reversals recorded in the S&P 500, Nasdaq 100, and Dow Jones Industrial Average were led by an earlier rally in the […]
06/03/2024

USDJPY: Will the Bullish Trend Persist?

Bullish Scenario: Intraday buys above 149.80 with TP: 150.50, TP2: 150.80, and TP3: 151.00 and 151.90 medium-term, with S.L. below 149.60 or at least 1% of account capital*. Apply trailing stop. Bearish Scenario: Sales below 150.50 with TP1: 149.80, TP2: 149.17, and 147.62 medium-term with S.L. above 150.80 or at least 1% of account capital*. […]
27/12/2023

NZDUSD Clocks Fresh 5-Month High; Looks Overbought

NZDUSD stages a steady recovery from 2023 lows But momentum indicators warn of overbought risks Is there a pullback in sight? NZDUSD has been in a steep uptrend since its 2023 low of 0.5772, generating consecutive higher highs and a V-shaped recovery pattern. However, the latest advance seems substantially overstretched as the RSI has been within its overbought zone for […]