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Short Term Elliott Wave View in S&P 500 ($SPX) suggests that cycle from 8.5.2024 low is in progress as a 5 waves impulse. Up from 8.5.2024 low, wave (1) ended at 5651.62 and dips in wave (2) ended at 5402.62. Internal subdivision of wave (2) unfolded as a zigzag structure where wave A ended at […]

The post S&P 500 ($SPX) Elliott Wave Sequence Remains Bullish appeared first on Action Forex.

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17/05/2024

Australian Dollar Hits 4-month High

The Australian dollar is lower on Friday. AUD/USD is currently trading at 0.6658 in the European session, down 0.31% on the day. The Aussie touched a high of 0.6714 on Thursday, its highest level since January 10th. This followed a massive 1% surge on Wednesday after the US inflation report indicated that April CPI ticked […]
20/06/2024

GBP/USD Lower as BoE Holds Rates

The British pound is lower on Thursday. GBP/USD is trading at 1.2683 in the North American session at the time of writing, down 0.29% on the day. The Bank of England held rates at today’s meeting, as expected. There are no releases out of the US today. Bank of England stays pat There were no […]
12/03/2024

US CPI in the Limelight

In focus today The most important release of the day will be the US February CPI. We look for both headline and core CPI to come out at +0.3% m/m SA, slightly below consensus forecast. Markets will focus on non-housing services inflation, which surprised to the upside in January, cooling expectations of rapid rate cuts. […]