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Short Term view on Dow Futures suggests rally from 10.27.2023 low ended at 38113 as wave (3). Pullback in wave (4) unfolded as a double three Elliott Wave structure. Down from wave (3), wave W ended at 37470 and wave X ended at 38038. Wave Y lower ended at 37298 as the 1 hour chart […]

The post Dow Futures (YM) Pullback Should Find Support in 3, 7, 11 Swing appeared first on Action Forex.

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10/06/2024

EUR/GBP Rate at 21-Month Low Post-European Parliament Elections

Investors will begin the week in a state of uncertainty regarding the outlook of Europe’s political landscape. The four-day European Parliament elections concluded on Sunday. According to Reuters, the results showed a significant gain for eurosceptic-nationalists, who have displaced liberals and greens. Additionally, President Emmanuel Macron dissolved the French Parliament, calling for early legislative elections […]
25/07/2024

GBP/USD Dips to 1.2850 Amid Growing BoE Rate Cut Speculation

GBP/USD is declining due to speculation of a BoE rate cut and concerns about global growth. Market participants are pricing in a 53% chance of rate cuts in August, but economists polled predict an 80% chance of a cut. Technically, GBP/USD has support at 1.2850 and resistance at 1.2950. Cable has continued to edge toward […]
12/04/2024

USD/JPY Supported For More Gains, Gold Approaches $2,400

Key Highlights USD/JPY started another increase and cleared the 152.50 resistance. A key bullish trend line is forming with support at 152.70 on the 4-hour chart. EUR/USD and GBP/USD gained bearish momentum. Gold prices surged further above the $2,380 level. USD/JPY Technical Analysis The US Dollar remained well-bid above the 150.00 level against the Japanese […]