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Major US bench stock indices (S&P 500, Nasdaq 100, Dow Jones Industrial Average & Russell 2000) started the month of September on a weak footing. The Nasdaq 100 was the worst performer (-3.15%) on Tuesday, 3 September dragged down by the higher-beta technology sector (Nvidia & other semiconductor stocks) Recent weak performance of Nvidia (ex-post […]

The post Nasdaq 100: Torpedoed by Nvidia and May See Further Weakness appeared first on Action Forex.

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29/11/2023

EUR/USD: Bulls Taking Breather After Cracking Psychological 1.1000 Barrier

EURUSD is consolidating under new multi-week high on Wednesday, after bulls cleared pivotal Fibo resistance at 1.0959 (61.8% of 1.1275/1.0448 downtrend) and cracked psychological 1.10 barrier. The Euro received fresh support from expectations that the Fed is done with rate hikes and rising bets for start of cutting interest rates in the first half of […]
19/01/2024

USD/JPY Extends Rally But Can Bulls Push It To 150?

Key Highlights USD/JPY started a strong increase above the 145.00 resistance. A key bullish trend line is forming with support at 146.90 on the 4-hour chart. EUR/USD declined further and traded below the 1.0880 support. Gold prices trimmed gains and revisited the $2,000 support zone. USD/JPY Technical Analysis The US Dollar started a fresh increase […]
02/01/2024

GBPJPY Wave Analysis

GBPJPY reversed from support level 179.40 Likely to rise to resistance level 182.00 GBPJPY currency pair recently reversed up from the multi-month support level 179.40 (which has steadily reversed the pair from the start of July). The support level 179.40 was further strengthened by the lower daily Bollinger Band. Given the strength of the support […]