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Market recovering from Thursday’s relatively hawkish show by the BoE Pound would benefit against the euro from an upside CPI surprise November inflation report will be released on Wednesday (07.00 GMT) A surprisingly hawkish BoE last week Contrary to market expectations and the Fed setting the scene for a dovish round of central bank gatherings, […]

The post Will UK CPI Please the Market Ahead of Festive Break? appeared first on Action Forex.

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23/07/2024

USD/JPY: Bears Retest Key Near-Term Support

USDJPY fell 0.7% in Asia on Tuesday after comments from Japanese official added pressure on the central bank for more rate hikes to further boost strengthening yen. The latest comments further improved yen’s sentiment, though most analysts expect BoJ to keep rates unchanged in the next policy meeting. Fresh weakness is pressuring key supports at […]
03/12/2024

Elliott Wave View S&P 500 (SPX) Wave 5 in Progress

Short Term Elliott Wave view on SP500 (SPX) suggests rally from 8.5.2024 low is in progress as a 5 waves impulse. Up from 8.5.2024 low, wave 1 ended at 5627.56 high and pullback in wave 2 ended at 5402.62 low. The Index then extends higher in wave 3 ending at 5878.46 high. The next pullback […]
09/09/2024

EURUSD Wave Analysis

EURUSD reversed from support level 1.1030 Likely to rise to resistance level 1.1200 EURUSD recently reversed up from the support level 1.1030 (former resistance from August, acting as the support after it was broken by the previous impulse wave iii). The upward reversal from the support level 1.1030 created the daily Japanese candlesticks reversal pattern […]