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We expect the Fed to maintain its monetary policy unchanged in the January meeting. We expect the first rate cut in March and a total of four cuts in 2024. The Fed is in a comfortable position with regards to both sides of its dual mandate. Cooling inflation warrants cutting rates towards neutral, but solid […]

The post Fed Preview: Patience and Gradualism appeared first on Action Forex.

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WTI Oil Technical: Approaching a Key Medium-term Resistance, At Risk of Mean Reversion Decline

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04/04/2024

GBP/USD: Slight Bullish Bias Above 200-DMA But Thin Daily Cloud Still Significant Obstacle

Cable extends recovery from 1.2540 double bottom (Apr 1 / 2 lows) and pressuring significant barrier at 1.2674 (daily cloud top / Fibo 38.2% of 1.2893/1.2539), as bulls regained traction after a false break below pivotal 200DMA support (1.2586). Near-term action is expected to keep slight bullish bias while holding above 200DMA, though sustained break […]
13/09/2024

Germany 30 Technical: A Potential Bearish Reversal Looms

The recent rebound from its 10 September low of 18,186 has faced a hurdle to clear above its 20-day moving average. Several key elements are advocating for a potential short to medium-term bearish reversal. Watch the key resistance at 18,660. After the 9.4% drop seen in the Germany 30 CFD Index (a proxy for the […]
04/06/2024

Silver Wave Analysis

Silver reversed from support level 29.70 Likely to rise to resistance level 32.00 Silver recently reversed up from the key support level 29.70 (former monthly high from April), which stopped the previous intermediate impulse wave (3). The support level 29.70 was strengthened by the 20-day moving average and by the 38.2% Fibonacci correction of the […]