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US 500 index trades lower after recording a new all-time high The pace of the rally remains aggressive but euphoria dominates Bears continue to closely monitor the stochastic oscillator’s movements The US 500 cash index is edging lower again today after recording a new all-time high of 5,189 last week. Friday’s mixed US labour market data do not […]

The post US 500 Cash Index in the Red Again appeared first on Action Forex.

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31/10/2024

Brent Crude Oil Wave Analysis

Brent crude oil reversed from long-term support level 70.00  Likely to rise to resistance level 75.00 Brent crude oil recently reversed up from the major long-term support level 70.00 (which has been reversing the price from the end of 2021). The support zone near the support level 70.00 was strengthened by the lower daily and […]
03/03/2024

Time to Take a Closer Look at Altcoins?

Market picture The cryptocurrency market has corrected by 2%, dropping below $2.3 trillion in market capitalisation. Now, this looks like a technical correction, with the biggest coins pulling back from Thursday night’s highs and holding their positions at the start of Friday’s trading. Bitcoin and Ether are drawing their seventh consecutive daily growth candle, albeit […]
07/05/2024

USDJPY – Initial Reversal Signal Requires More Work at the Upside for Confirmation

USDJPY edges higher on Monday after a pullback from new record high (160.19) was contained by strong Fibo support at 151.72 (61.8% retracement of 146.48/160.19 upleg, reinforced by 55DMA). Strong rejection here left a Hammer candle on Friday, initial signal of reversal, which could be boosted if today’s bounce completes a bullish engulfing pattern. However, […]