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Aggressive interest rate cuts by PBoC coupled with potential expansionary fiscal policies that target consumer spending have stoked positive animal spirits. Market breadth has improved on China CSI 300 and Hong Kong Hang Seng Index. Watch the key medium-term support of 18,290 on the Hang Seng Index. Since the start of last week, a change […]

The post Hang Seng Index: Start of a Potential New Medium-Term Bullish Trend appeared first on Action Forex.

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26/07/2024

Oil Price Reversal Ahead? Chart Patterns Indicate Possible Bounce at Support

Oil prices have faced challenges recently, but buying pressure prevented a drop below $80. Technical indicators suggest potential for an upward bounce, with key resistance levels to watch. Fundamental factors like Canadian wildfires, US stockpiles, and rate cut expectations support oil prices. Oil prices faced challenges yesterday until buying pressure during the US session prevented […]
14/08/2024

Gold Aims for Critical Upside Break, US CPI Next

Key Highlights Gold is attempting a fresh increase above the $2,440 support zone. A major bullish trend line is forming with support at $2,400 on the 4-hour chart. Oil prices extended gains and climbed above the $77.50 resistance. The US Consumer Price Index could increase by 2.9% in July 2024 (YoY), down from +3%. Gold […]
05/06/2024

GBPAUD Reacting Higher From Elliott Wave Extreme Area

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of GBPAUD. In which, the rally from the 09 May 2024 low unfolded in a corrective sequence but provided an extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a […]