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Appetite in Europe was weak yesterday in the absence of American markets. The French CAC40 remained firmly offered near its 200-DMA and fell 0.77%, the European Stoxx 600 index retreated 0.17%, and the Swiss SMI consolidated above the 12’000 mark while the FTSE 100 took out the 50-DMA and closed slightly higher at yesterday’s trading […]

The post Decision Day Will Bring Three Important Policy Announcements on Top of China’s appeared first on Action Forex.

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FTSE 100 index Wave Analysis

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AUDUSD Extends Sideways Movement

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12/07/2024

USDCAD Trades Sideways as 200-SMA Provides Support

USDCAD is rangebound in the past few sessions The 200-day SMA caps the pair’s downside Momentum indicators are negatively tilted USDCAD had been hovering around its 50-day simple moving average (SMA) for the past two months, appearing incapable of clearing this hurdle. This repeated inability triggered a decisive break below the 50-day SMA on July 3, with […]
06/08/2024

Nikkei 225 Wave Analysis

Nikkei 225 reversed from support level 30600.00 Likely to rise to resistance level 35000.00 Nikkei 225 index recently reversed up from the key support level 30600.00, former support from the end of 2023. The support level 30600.00 was strengthened by the nearby 61,8% Fibonacci correction of the previous weekly uptrend from the start of 2023. […]
05/05/2024

Sanctions Reach Won’t Disrupt The Dollar’s Reserve Currency Status

Summary In recent times, the U.S. dollar’s status as the global reserve currency has been questioned, more so now that the reach of U.S. sanctions capabilities has been expanded to seize foreign government dollar assets. But despite the risk of having assets confiscated, in addition to recent efforts to diversify from the greenback, we continue […]