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Recent decline has almost reached the upward-sloping 50-day moving average. Short-term RSI momentum indicator has suggested downside momentum has eased. Potential short-term bounce above 16,160 key short-term support. The US Nas 100 Index (a proxy for the Nasdaq 100 futures) has tumbled towards the 16,160/125 intermediate support as highlighted in our earlier analysis as it […]

The post Nasdaq 100 Technical: Potential Short-Term Bounce on the Horizon appeared first on Action Forex.

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15/08/2024

Retail Sales Is Counterprogramming the Job Report

Summary In the month of July retailers saw a sales increase of $6.8 billion, or 25% of the total gain from the prior two years in a single month. While most of that was an autos bounce after an ugly June, gains were broadly based and thus at odds with reports of a more cautious […]
29/04/2024

US 500 Cash Index in the Green Ahead of Fed

US 500 index is edging higher, a tad below the 50-day SMA Bulls are feeling more confident following strong tech earnings Momentum indicators are mixed at this stage The US 500 cash index is trying to record its third consecutive green candle today as the bulls are probably feeling relieved following the recent strong tech earnings […]
14/08/2024

USD/JPY Sees Retreat Amid US Dollar Weakness

USD/JPY has retreated from its peak this week, settling at 146.82. The yen gained some strength as the US dollar weakened following July’s lacklustre US Producer Price Index (PPI) data. This report bolstered market expectations for a potential 50 basis point cut by the Federal Reserve at its upcoming September meeting. The focus now shifts […]