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The dollar continues to rise on speculation of policy changes following the US election. The Dollar Index rose above 105.5 on Monday – its highest level since early July – before easing slightly in trading. The main contributors to the index’s strength are weakness in the single currency and the Japanese yen. In both cases, […]

The post Dollar Unstoppable for Now appeared first on Action Forex.

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EURUSD – Steep Downtrend Extends to New Multi-Month Low

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27/06/2024

Need Morphine

The selloff in Japanese yen extended yesterday sending the currency to the lowest levels since 1986 against the US dollar and to the lowest levels against the euro. The EURJPY is now flirting with the 172 level, while the USDJPY is consolidating gains above the 160 level. The only thing that prevents the yen from […]
03/01/2024

US DJIA Technical: Uptrend Intact With Looming Outperformance Over Nasdaq 100

Nasdaq 100 outperformance over the Dow Jones Industrial Average (DJIA) since the start of the major uptrend phase has started to dissipate. A bullish rotation into the laggard, DJIA is considered a sign of a positive breadth development for the US stock market. Watch the key short-term support at 37,470. Since our last analysis, the […]
30/07/2024

Uncertainty Looms Ahead of Mag7 Earnings, Rate Decisions

The week kicked off on a mixed note. Equities in Europe fell, the major US indices were near flat, slightly positive for the S&P500 and Nasdaq, and slightly negative for the Dow Jones, as technology stocks extended a rebound into a second day while oil stocks retreated on a further selloff in crude oil. US […]