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The global economy is settling into a newfound stability and central banks can continue to cautiously cut rates, said the OECD yesterday, but warned that the major central banks should maintain their data-dependent approach and be ‘prudent’ while cutting their rates. We are all looking at you Jerome Powell! Anyway, one thing that stood out […]

The post Where Are The Oil Bulls? appeared first on Action Forex.

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Elliott Wave forecast for EUR/USD: Bullish Momentum Decreasing in Fifth Wave

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14/09/2024

Markets Weekly Outlook – Central Banks to Rule the Roost

Federal Reserve’s Upcoming Decision: Markets are split on whether the Fed will cut rates by 25 or 50 bps. Key data releases from China, Japan, the UK, and the US will shape market sentiment and potentially set the tone for Q4 2024. The DXY is nearing a critical support level, and its direction could determine […]
10/01/2024

USDJPY Turns Up, But is the Rebound Sustainable?

USDJPY aims for a bullish breakout ahead of Thursday’s US CPI data Momentum indicators are encouraging, but trend signals are still cautious USDJPY found new buyers near its 20-day simple moving average (SMA) at 143.40 on Tuesday, drifting higher to close mildly positive on the day. Upside pressures persisted early on Wednesday, bringing the important 144.70 region, […]
30/05/2024

OPEC+ Supply Cuts to Stay, But Patience Might Start Running Out

OPEC+ oil producers might extend current supply cuts on Sunday June 2 Deeper cuts could be acceptable by major members but probably not for long Plans for capacity increases might cause some divisions within the group Geopolitical tensions, China outlook, and Fed rate cut path to move oil prices too An agreement seems to be on the table already OPEC […]