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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 […]

The post Germany 30 Technical: A Potential Bearish Reversal Looms appeared first on Action Forex.

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05/01/2024

Could US 500 Cash Index Correction Have Legs?

US 500 index is in the red again today Correction underway since touching the 4,796 high Momentum indicators support the current bearish move The US 500 cash index is trying to record its sixth consecutive red candle, starting 2024 in a rather negative note. The current correction could gain further traction if the data releases […]
10/07/2024

NZD/USD Outlook: Kiwi Dollar Down 1% on Dovish RBNZ

NZDUSD was sharply lower during Wednesday morning (down almost 1% for the session) deflated by the Reserve Bank of New Zealand’s dovish stance. The central bank left interest rates unchanged at 5.5%, as widely expected, but signaled that the door for possible rate cut remains open, should inflation continue to ease in line with expectations. […]
11/03/2024

EUR/USD Hits 8-Week High

The euro is trading above USD 1.09, hitting its strongest point since mid-January on Friday, helped by news from both the US and Europe. Friday’s news showed that the US labor market is weakening: → The change in employment in the non-farm sector showed an increase in jobs = 275k for the month, although last […]