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The Dollar Index eases from new four-month high (105.33) posted on Wednesday’s sharp rally (the biggest daily gain in two years) on news of Trump’s election victory. Partial profit-taking pushed the price lower, but the dollar keeps firm tone (daily studies remain in full bullish setup) suggesting that current dip is just positioning for fresh […]

The post Dollar Index Outlook: Dollar Eases from New Multi-Month High in Likely Positioning for Fed Rate Decision appeared first on Action Forex.

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14/12/2023

Fed Holds Rates, Signals More Rate Cuts in 2024

The Federal Reserve Open Market Committee (FOMC) maintained the federal funds rate in the 5.25% to 5.50% range and announced it would continue its balance sheet runoff. The Fed adjusted its language to acknowledge the recent easing in economic data, stating “recent indicators suggest that growth of economic activity has slowed from its strong pace […]
23/05/2024

Elliott Wave Analysis on Oil (CL) Looks for Short Term Weakness

Short Term Elliott Wave in Light Crude Oil (CL) suggests the decline from 4.12.2024 high is in progress as a 5 waves impulse. Down from 4.12.2024 high, wave 1 ended at 81.56 and wave 2 rally ended at 86.28. Wave 3 lower ended at 76.89. The 1 hour chart below shows the starting point from […]
21/05/2024

Metals Shine

The week kicked off with quite a solid appetite, especially for commodities. Gold advanced to a fresh record and traded at $2450 per ounce yesterday despite a further rebound in US yields after more Federal Reserve (Fed) members voiced their preference for keeping the rates ‘high for longer’. Loretta Mester said that she no longer […]