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Market participants have started to question the earlier high earnings growth prospects placed on the “Magnificent 7” stocks. The past month of record low implied correlation among S&P 500 component stocks can increase the odds of a more pronounced spike in the VIX. The S&P 500 is at risk of shaping a medium-term (multi-week) corrective […]

The post SPX 500: Further Weakness May Trigger Medium-Term Global Risk-off Event appeared first on Action Forex.

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12/11/2024

EURUSD – Steep Downtrend Extends to New Multi-Month Low

EURUSD started the week negatively (down 0.7% until early US trading on Monday, in extension of Friday’s 0.8% drop, with total loss of 2.7% since announcement of Trump’s victory on Wednesday. The single currency has also registered a weekly loss of 1.8% vs dollar, with near term action weighed by large weekly bearish candlestick and […]
19/12/2024

Nasdaq 100 Index Plummets After Fed Decision

On 17th December, analysing the Nasdaq 100 chart (US Tech 100 mini on FXOpen), we: → Drew a blue upward channel relevant for 2024; → Noted that the price was near the upper boundary of the channel, while the RSI indicator had entered the overbought zone; → Suggested that bulls might face difficulties in pushing […]
05/04/2024

GBPCHF Wave Analysis

GBPCHF reversed from resistance zone Likely to fall to support level 1.1340 GBPCHF recently reversed down from the major resistance zone located between the resistance level 1.1450 (which has been reversing the pair from last June) and the upper daily Bollinger Band. The downward reversal from this resistance zone continues the active downward impulse wave […]