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The Australian dollar is steady after a five-day slide, which saw the currency fall by 3.5% during that period. In the European session, AUD/USD is trading at 0.6471, up 0.28% on the day. China retail sales beats expectations China retail sales, a key indicator of domestic consumption, jumped 4.8% y/y in October, up sharply from […]

The post Aussie Stabilizes, China Retail Sales Rise appeared first on Action Forex.

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18/10/2024

EURGBP Goes Back to a Downtrend

EURGBP charts new 2 ½-year low after UK retail sales beat estimates Short-term bias is skewed to the downside, but price near familiar support line EURGBP plunged to a new 2½-year low of 0.8293, weighed by upbeat UK retail sales at 4.0% y/y and a dovish ECB policy stance, which raised concerns about the eurozone’s […]
25/10/2024

S&P 500 index Wave Analysis

S&P 500 index reversed from support zone Likely to rise to resistance level 5900.00 S&P 500 index recently reversed up from the support zone located between the key support level 5785.00 (former top of wave 1 from September), 20-day moving average and the 50% Fibonacci correction of the upward impulse from the start of October. […]
09/02/2024

Copper’s Fall An Early Signal of Global Slowdown

Copper exchange prices on Thursday fell to their lowest since November, approaching $8200 a tonne and breaking out of the broad consolidation range of the past two months. A move out of the $8250-8700 range technically leaves copper vulnerable to a quick fall into the $7900 region, where the lows of November 2022 and May […]