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Last week wrapped up with a striking contrast: bullish momentum through most of the week gave way to a bearish close on Friday. Donald Trump’s smooth inauguration and a bold $500bn AI infrastructure pledge fueled market optimism, further amplified by Netflix’s stellar quarterly results. However, the narrative shifted dramatically as Friday’s PMI data exceeded expectations […]

The post Nasdaq Futures 2% Down on Worries that AI Models Could Run on Cheaper Models appeared first on Action Forex.

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EUR/USD Recovery Hits a Pause: Is the Upside Still Intact?

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07/03/2024

Technical Outlook and Review

DXY: The DXY chart exhibits a bearish momentum, suggesting a potential continuation towards the 1st support level. The 1st support at 102.95 is significant as a multi-swing low support, indicating its historical importance as a level where buying interest has emerged, potentially providing support to the price. Furthermore, the 2nd support at 102.63 is characterized […]
09/07/2024

EURJPY Moves Beneath Its Lifetime High of 174.60

EURJPY struggles to jump above its recent high Momentum oscillators look overstretched EURJPY skyrocketed to a fresh multi-year high of 174.60 in the previous week but is currently hovering slightly below this level, with the technical oscillators suggesting an overstretched market. The RSI is trying to cross the 70 level to the downside, while the MACD […]
27/03/2024

Further Yen Losses Avoided as Fin Min Suzuki Warned

Markets Quite a long series of US data (including consumer confidence, house price data, durable goods orders and regional business sentiment) yesterday failed to provide any clear directional guidance for US and broader markets trading. US and German yields lost 1-2 bps across the curve. This low volatility environment initially supported a further upward drift […]