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In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of Nikkei. We presented to members at the elliottwave-forecast. In which, the rally from 04 October 2023 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we […]

The post Nikkei Strong Reaction Higher From The Equal Legs Area appeared first on Action Forex.

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USD/JPY Technical: Potential JPY Bullish Pressure Reasserts

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11/01/2024

Easing Liquidity Conditions May Provide Interim Support for China and Hong Kong Stock Markets

China’s credit impulse has remained on a slow upward trajectory since July 2023. Key China’s central bank (PBoC) official has signalled a further accommodating monetary policy in 2024. Growth in China’s services activities expanded in December 2023. Watch the 16,100 key long-term secular support on the Hang Seng Index. China and Hong Kong stock markets […]
01/04/2024

XAU/USD: Gold Hits New Record High on Growing Hopes for Fed Rate Cut in June

Gold hit new record high ($2265) in early Monday’s trading, as markets reopened after Good Friday’s pause. The metal starts the month in firm bullish mode, after softer US inflation data boosted expectations for Fed’s first rate cut in June (bets currently show 69% probability for June rate cut). Gold advanced 3% last week and […]
15/05/2024

EUR/USD Sees Green as USD/JPY Gains Bullish Traction

EUR/USD is slowly gaining traction above the 1.0800 level. USD/JPY trimmed almost all losses and showing positive signs above 156.20. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a decent increase above the 1.0750 pivot level. There is a key bullish trend line forming with support near 1.0800 on the hourly chart […]