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Markets US September inflation printed hotter than expected and contained some important hawkish details such as rising food prices and accelerating supercore services inflation (to an annualized 3mMA of around 4%). Several Fed officials including NY’s Williams, Chicago’s Goolsbee and Richmond’s Barkin were not too worried and focused on the broader picture in which inflation […]

The post US Inflation Printed Hotter Than Expected and Contained Some Important Hawkish Details appeared first on Action Forex.

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01/12/2023

DAX Will Open Elliott Wave Bullish Sequence Soon

$DAX cycle from 9.29.2022 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 9.29.2022 low, wave (1) ended at 16528.97 and dips in wave (2) ended at 14630.21. The Index extends higher again in wave (3). It still needs to break above wave (1) at 16528.97 to validate this view […]
04/07/2024

USD/CAD Breaks Key Support

On 25 June, we noted that the USD/CAD price had approached a crucial support level—the lower boundary of a converging triangle, which indicated a relative balance of supply and demand in the market during May. Since then, the price has bounced twice from this level (as indicated by the arrow). Today, as the USD/CAD chart […]
26/01/2024

WTI Oil Futures Challenge 61.8% Fibo

WTI futures break above crucial trendline and 50-day SMA Next target is the 61.8% Fibo, which held strong in January Momentum indicators tilt to the positive side WTI oil futures (March delivery) had been on the retreat since their September peak of 95.02, breaking below consecutive support zones. Although the price managed to halt its retreat […]