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The week kicked off on a mixed note. Equities in Europe fell, the major US indices were near flat, slightly positive for the S&P500 and Nasdaq, and slightly negative for the Dow Jones, as technology stocks extended a rebound into a second day while oil stocks retreated on a further selloff in crude oil. US […]

The post Uncertainty Looms Ahead of Mag7 Earnings, Rate Decisions appeared first on Action Forex.

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Elliott Wave Intraday Analysis: Dow Futures (YM) Resumes Bullish Trend

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GBPUSD Extends Pullback From 1-Year High

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12/01/2024

Silver (XAGUSD) Remains Sideways

Short Term Elliott Wave view in Silver (XAGUSD) suggests that the metal shows a bearish sequence from 12.4.2023 high. The decline from 12.4.2023 high is unfolding as a zigzag Elliott Wave structure. Down from 12.4.2023 high, wave A ended at 22.49 and wave B rally ended at 24.6. The metal resumes lower in wave C […]
27/06/2024

Yen Weaker Every Day, USDJPY Breaks 1990 Highs

Intraday Bullish Scenario: Wait for a pullback to 160.12 with TP1 at 160.60 and TP2 at 160.80, with an S.L. below 159.90 or at least 1% of the account capital. Apply Trailing Stop. Bearish Scenario: Sell below 160.60 (if a PAR forms) with TP1 at 159.81, TP2 at 159.73, and TP3 at 159.40 with S.L. […]
04/01/2024

USDCAD Wave Analysis

USDCAD reversed from key support level 1.3200 Likely to rise to resistance level 1.3400 USDCAD currency pair recently reversed up from the key support level 1.3200 (which reversed the price multiples times in the middle of 2023, as can be seen below). The support level 1.3200 was further strengthened by the lower daily Bollinger Band […]