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Short-term RSI momentum indicator has flashed out bullish exhaustion condition after 6 consecutive weekly positive closes. At the risk of minor corrective decline sequence below 16,910 key short-term resistance. Intermediate supports rest at 16,590 and 16,440. The Germany 30 Index (a proxy for the DAX futures) has managed to soar towards the 16,780/850 resistance zone […]

The post Germany 30 Technical: A Potential Minor Corrective Decline Looms appeared first on Action Forex.

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GBP/USD Drifting Ahead of US Inflation

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15/02/2024

All Eyes on US Retail Sales

In focus today In the US, January retail sales and industrial production data is due for release. Consensus expects some moderation in retail sales growth, even though early credit card data suggests that consumption has remained brisk at the start of the year as well. The NAHB housing market index and initial claims data will […]
30/05/2024

LT Yields Continue Recent Reacceleration

Markets LT yields yesterday continued recent reacceleration. This tells at least as much on current market momentum as on the news that served as an explanation. Regional German May inflation published throughout the day were soft (0.1% M/M). At 0.2% M/M HICP inflation also decelerated markedly (0.6% in April), but due to base effects, Y/Y […]
06/03/2024

Gold Price Surges Above $2,100, Bitcoin Sets New ATH

Key Highlights Gold rallied above the $2,080 and $2,100 resistance levels. A connecting bullish trend line is forming with support at $2,045 on the 4-hour chart. Bitcoin extended gains above the $68,800 resistance. Ethereum bulls seem to be aiming for a move toward $4,000. Gold Price Technical Analysis Gold prices started a fresh increase from […]