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US 500 index climbed to new record highs last week But got rejected and has retreated a little since MACD and RSI look overbought Following the bounce off the 5,385 support level, the US 500 (cash) index added more than 7%, reaching an all-time high of 5,772.52 last week. Technically, the index is sailing near […]

The post US 500 Calms Down After Hitting New Record High appeared first on Action Forex.

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18/03/2024

Gold Retreats from All-Time High

Gold pulls back from its recent record peak Momentum indicators exit overbought conditions Gold experienced a massive surge following its profound break above the 50-day simple moving average (SMA), posting a fresh all-time high of 2,195 on March 8. However, bullion has been undergoing a minor downside correction since then as it had approached extremely overbought conditions. […]
20/04/2024

Weekly Focus – Middle East Situation Remains Tense

Market sentiment has remained volatile throughout the week. Iran’s strikes to Israel last weekend sparked uncertainty, which eased gradually through the week, only to be re-ignited by Israel’s retaliation last night. The jury is still out on whether this leads to a wider regional escalation, but at the time of writing, Iranian sources have said […]
24/06/2024

EUR/JPY Outlook: Hits New Record High

EURJPY continues to trend higher and extends steep upleg into sixth straight day, to hit new record high above 171 mark in early Monday trading. Bulls firmly hold grip despite overbought conditions and signals from Japan’s authorities about the intervention to support falling yen, which came under increased pressure after dovish BoJ’s stance in the […]