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In focus today Today will be light on the data front, with the German ZEW indicator for November only. It will be interesting to see if the improvement in expectations recorded in October continued in November. Economic and market news What happened overnight In Sweden, the Public Employment Service (PES) released their latest unemployment statistics […]

The post Will ZEW for November Match October’s Improvement? appeared first on Action Forex.

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21/08/2024

Elliott Wave Analysis on EURUSD Impulsive Rally Favors the Bull Side

Short Term Elliott Wave View in EURUSD suggests that pair is close to form a bullish sequence. A break above the previous high on 12.28.2023 at 1.1139 suggests the next leg higher has started. Near term, rally from 6.26.2024 low is unfolding as a 5 waves impulsive structure. Up from 6.26.2024 low, wave 1 ended […]
15/03/2024

BoJ Hike in Sight – But No Reason to Rush

The inflation target has been met for 22 consecutive months. Price pressures consistently rhymes with 2% annual inflation but the sustainability of that depends on wage increases. We think the BoJ is almost ready to hike the interest rate to zero and dismantle yield curve control. However, we see no reason to rush and expect […]
08/10/2024

WTI Wave Analysis

WTI under strong bullish pressure Likely to rise to resistance level 78.3 WTI crude oil under the strong bullish pressure after the price broke the resistance level 71.30 (former strong support from August) intersecting with the resistance trendline of the daily down channel from July. The breakout pf the resistance level 71.30 accelerated the active […]