Logo-color Logo-white

Bearish reversal detected below 5,930 key medium-term resistance of the SPX 500. Market breadth indicator (% of component stocks above 20-day and 50-day moving averages) has deteriorated. The odds have increased for a medium-term corrective decline on the SPX 500 as the key US presidential election risk event looms on 5 November. Since our last […]

The post SPX 500: Second Sign of Downside Volatility Emerges, Odds of Medium-Term Corrective Decline Increase appeared first on Action Forex.

previous

AUDUSD Holds Near August Lows: US Dollar Pressure Remains Strong

next

US: Payrolls Disappoint in October, But Unemployment Rate Holds Steady at 4.1% 

Read More

06/05/2024

All’s Well That Ends Well

Friday’s US jobs data brightened up the mood among Federal Reserve (Fed) doves, as both the NFP, unemployment rate and wages pointed at a slowing labour market in April. The US economy added 175K new nonfarm jobs last month, the wages grow less than 4% – which is still twice the Fed’s inflation target but […]
29/11/2024

USD/JPY Rebound May Stall: What Could Cap Gains?

Key Highlights USD/JPY started an upside correction from the 150.50 zone. A major bearish trend line is forming with resistance at 152.50 on the 4-hour chart. EUR/USD is struggling to recover above the 1.0600 resistance. GBP/USD must settle above 1.2720 to start a decent increase. USD/JPY Technical Analysis The US Dollar started a major decline […]
22/11/2024

USDCAD Trades Higher, Bounces Off a Key Trendline

USDCAD is edging higher today, a tad above 1.3977 It bounced off the September 25, 2024 trendline Momentum indicators are gradually turning bearish USDCAD is edging higher today, trading a tad above the October 13, 2022 high at 1.3977. CAD bulls’ latest attempt to push USDCAD below the September 25, 2024 ascending trendline failed, with […]