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Markets EUR/USD was among the worst cross rate performers yesterday. The currency pair dropped as low as 1.046, down from 1.058 at the open. French politics beat the common currency down after PM Barnier forced through part 1 of the budget using article 49.3 through which he circumvented parliament. Both the left and the right […]

The post French Politics Beat the Common Currency Down appeared first on Action Forex.

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EUR/CHF: French’s Political Fiasco May Trigger a Major Bearish Breakdown

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02/04/2024

GBPUSD May See Support Soon From Inflection Area

Short Term Elliott Wave view in GBPUSD suggests that decline from 3.8.2024 high is unfolding s an impulse Elliott Wave structure. Down from 3.8.2024 high, wave (i) ended at 1.2745 and wave (ii) rally ended at 1.2823. Wave (iii) lower ended at 1.273 and wave (iv) ended at 1.2747. Final leg wave (v) ended at […]
28/03/2024

US500: Further Correction Towards 5192 Before Resuming Purchases

Bearish Scenario: Sales below 5220 with TP1: 5210 and TP2: 5192.21 with S.L. above 5248 or at least 1% of account capital*. Bullish Scenario: Buys above 5225 (if price fails to break below decisively) with TP1: 5235, TP2: 5242, TP3: 5248, TP4: 5255, TP5: 5290, and TP6 (Swing): 5300 with S.L. below 5210 or at […]
11/12/2024

US Small Business Optimism Soars

Small businesses have become more optimistic since the November election, as evidenced by an eight-point jump in the Small Business Optimism Index. There was a similar jump in 2016 following Donald Trump’s victory. The index jumped to 101.7, above its historical average of 98, with improvements in nine out of ten components (current inventory unchanged). […]