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The economy of China is hit by the decision to liquidate the developer Evergrande due to a debt of USD 300 billion. Bloomberg writes that this will have huge consequences for all of China. While the S&P 500 index rose by more than 3% since the beginning of January, the Hang Seng index fell by […]

The post Hang Seng Index is Near Important Support appeared first on Action Forex.

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28/12/2023

Crude Oil Price Recovery Could Gather Pace Above $76

Key Highlights Crude oil prices started a recovery wave from the $67.70 zone. A key rising channel is forming with support near $73.80 on the 4-hour chart. Gold prices also gained pace and climbed above the $2,065 resistance. EUR/USD surged above the 1.1040 resistance zone. Crude Oil Price Technical Analysis In the past few days, […]
15/12/2023

Something Doesn’t Feel Right

The European Central Bank (ECB) and the Bank of England (BoE) refused to join the Federal Reserve (Fed)-thrown pivot party. Both Christine Lagarde and Andrew Bailey declined to discuss cutting interest rates judging a policy loosening too early as the inflation threat looms. BoE’s Bailey pointed at the possibility of another rate hike, as three […]
07/05/2024

EURUSD Returns Within a Sideways Range

EURUSD returns within range between 1.0725 and 1.0930 MACD and RSI detect a lack of directional momentum For the bears to recharge, a break below 1.0725 may be needed The outlook may turn bullish if the price breaks above 1.0930 EURUSD has been in a recovery mode since April 16 when it hit support near […]