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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.

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25/04/2024

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Markets Asian markets mostly started the day in risk-off modus after a disappointing outlook from tech bellwether Meta at its earnings report yesterday after the close of US markets. This also spilled over to European equities this morning. The risk-off again didn’t trigger any real safe haven bid for core bond markets. Declines in EMU […]
02/02/2024

GBP/USD: Poised for Potential Bullish Breakout Ex-post BoE

BoE offered dovish guidance but projected that inflation may run hot again in Q1 2025. GBP has remained the top outperformer major currency against the US dollar. Technical analysis suggests a potential bullish breakout for GBP/USD. The British pound sterling (GBP) made another remarkable intraday recovery yesterday after the Bank of England (BoE) maintained its […]
01/08/2024

Elliott Wave Intraday Analysis: USDJPY Correcting Larger Degree

Short Term Elliott Wave in USDJPY suggests that cycle from 7.3.2024 high is in progress as a double three Elliott Wave structure. Down from 7.3.2024 high, wave A ended at 155.37 and rally in wave B ended at 157.86. Wave C lower ended at 151.94 which completed wave (W) in higher degree. Pair then rallied […]