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Markets US yields softened going into the weekend as a poor manufacturing ISM triggered a short squeeze. Today, the calendar was almost empty. However, with several key events/data scheduled later this week, markets didn’t draw any firm conclusions from Friday’s repositioning. In technical trade, US yields even reverse a big part of Friday’s setback, adding […]

The post Sunset Market Commentary appeared first on Action Forex.

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26/01/2024

EURCAD Wave Analysis

EURCAD reversed from resistance level 1.4720 Likely to fall to support level 1.4570 EURCAD currency pair recently reversed down once again from the key resistance level 1.4720 (upper boundary of the sideways price range inside which the pair has been trading from December). The resistance level 1.4720 was strengthened by the upper daily Bollinger Band […]
03/07/2024

S&P 500: Mid-Year Prospects Analysis

As shown by the daily chart of the S&P 500 (US SPX 500 mini on FXOpen): → Since the beginning of 2023, the price has been moving in an upward blue channel. To date, the increase has been over 42%; → Since the start of 2024, the price has formed a steeper upward channel (shown […]
04/12/2023

EUR/USD Holds Support But Can It Increase Again?

Key Highlights EUR/USD rallied toward 1.1020 before it corrected lower. A major bullish trend line is forming with support near 1.0880 on the 4-hour chart. GBP/USD is consolidating gains above the 1.2650 level. Gold prices surged higher above $2,100 and $2,120. EUR/USD Technical Analysis The Euro started a strong increase above the 1.0820 resistance against […]