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Short Term Elliott Wave view on FTSE suggests that rally from 8.18.2023 low is unfolding as a 5 waves impulse. Up from 8.18.2023 low, wave 1 ended at 7745.82 and pullback in wave 2 ended at 7279.86. Up from there, wave ((i)) ended at 7764.37 and wave ((ii)) pullback ended at 7404.08. The Index then […]

The post Elliott Wave Calling for FTSE to Extend Higher appeared first on Action Forex.

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GBPUSD Bounces Off 1.2300 But Remains at Risk

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22/08/2024

With Inflation Becoming Gradually More Under Control, Fed Has Space to Focus on Second Pillar of Dual Mandate

Markets The US Bureau of Labour Statistics kept most of us waiting yesterday. The preliminary benchmark payrolls revision for the year through March 2024 eventually showed the feared, significant, downward revision. The actual payroll count was 818k lower or around 68k/month. That lowers the average monthly net job growth over the reference period from 242k […]
12/01/2024

USDCAD Bears Show Up Near Key Resistance

USDCAD pauses rebound near key resistance trendline Market sentiment remains fragile below 1.3440 USDCAD could not climb into the 1.3400 zone despite the slight positive surprise in the US CPI inflation numbers on Thursday, staying below the ascending trendline drawn from November 22. The pair also seems to be trapped between the upper 2021 ascending […]
27/03/2024

USDCHF Wave Analysis

USDCHF broke the resistance level 0.8875 Likely to rise to resistance level 0.9100 USDCHF currency pair recently broke the resistance level 0.8875 (which has been reversing the price from February), intersecting with the 61.8% Fibonacci correction of the downward impulse from October. The breakout of the resistance level 0.8875 accelerated the C-wave of the active […]