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The dollar index is holding within a narrow range, in a quieted pre-NFP mode on Friday morning, but remains at the back foot following 0.5% drop previous day, which generated initial negative signal on close below bull-channel support line (106.08) also near Fibo 23.6% retracement of 99.87/108.04 uptrend. Fresh bears found footstep just above next […]

The post US Dollar Index Outlook: Dollar Index in a Quiet Mode Ahead Release of US NFP Report appeared first on Action Forex.

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22/12/2023

EURCHF Wave Analysis

EURCHF reversed from key support level 0.9410 Likely to rise to resistance level 0.9500 EURCHF currency pair recently reversed up from the key support level 0.9410 (which has been reversing the price from the middle of October). The support level 0.9410 was strengthened by the intersecting lower daily Bollinger Band. Given the oversold daily Stochastic, […]
07/12/2023

WTI Oil Futures: Is the Sell-off Overdone?

WTI oil futures test critical 2023 support zone Technical signals point to oversold levels Sellers await a weekly close below 70 WTI oil futures were sold dramatically on Wednesday, extending their weekly losses to a more than a four-month low of 69.10. The bears are leading for the seventh consecutive week, increasing speculation that a bullish […]
29/08/2024

U.S. Economic Resilience on Display in the Second Quarter 

The second estimate of second quarter real GDP growth was revised up 0.2 percentage points (pp) to 3.0% quarter-over-quarter annualized (q/q) – slightly above the consensus forecast. Looking under the hood, an upward revision to consumer spending (2.9% q/q vs. prior 2.3% q/q) was largely responsible for last quarter’s upgrade. Spending on both goods (3.0% […]