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US dollar index fails to extend upside move from 100.27 200-day SMA acts as important resistance RSI weakens above 50 The US dollar index is currently struggling to surpass the significant 200-day simple moving average (SMA), which stands near the 103.20 barrier. The market is moving back and forth of the 50- and the 200-day […]

The post US Dollar Index Battles With SMAs Near 103.00 appeared first on Action Forex.

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05/12/2023

EUR/USD: Bears Tighten Grip and Crack Pivotal Supports

Bears returned fully to game on Monday after Friday’s brief pause on Fed Powell’s remarks, pushing the Euro to the lowest in three weeks. The pair slid over 0.5% until mid-US session and cracked pivotal support at 1.0818 (200DMA), looking for a bearish signal on firm break, which will be confirmed on extension and close […]
08/08/2024

It Will Take More for RBA to Move: First Rate Cut Later, a Faster Decline a Risk

We have revised our view to an expectation that the RBA will first start cutting rates at the February 2025 meeting, and end at 3.35%. There are risks on both sides of this forecast. As we noted yesterday, the RBA Governor all but ruled out cutting rates this year. This runs counter to our earlier […]
04/04/2024

NASDAQ Futures (NQ_F) Is Giving Us a Bounce from the Buying Zone

Hello fellow traders. As our members know , NASDAQ has recently given us plenty of positive buying setups. In this article we’re going to present Elliott Wave charts of NQ_F published in the members area of the website. NASDAQ made a clear 3 waves pull back that has unfolded as Elliott Wave Double Three pattern. […]