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Markets Markets were on an emotional rollercoaster yesterday. The first Ukrainian use of US-made long range ATACMS missiles pushed Russian President Putin into signing off a revised nuclear doctrine. It now includes a possibility of a nuclear response to aggression by non-nuclear states that are supported by other nuclear powers. European stocks lost around 1.5% […]

The post UK Headline Inflation Accelerated Slightly More than Expected appeared first on Action Forex.

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27/05/2024

EURUSD Ticks Up Before Testing Descending Trendline

EURUSD retreats from a fresh 2-month high of 1.0894 But meets support a tad above its long-term restrictive trendline Oscillators suggest bulls remain in charge despite the latest drop EURUSD had been in a steady advance following its 2024 bottom of 1.0600 on April 16. However, the pair reversed lower after its rejection at a fresh two-month […]
05/06/2024

USDCAD: Influence of Linear Regression Channel and BoC

Bullish Scenario: Buy above 1.3676 with TP1: 1.3699, TP2: 1.3720, and TP3: 1.3735, with an SL below 1.3665 or at least 1% of account capital. Apply trailing stop. Bearish Scenario: Sell below 1.3665 with TP1: 1.3623, with an SL above 1.3686 or at least 1% of account capital. Fundamental Analysis The BoC has maintained its […]
11/03/2024

US 500 Cash Index in the Red Again

US 500 index trades lower after recording a new all-time high The pace of the rally remains aggressive but euphoria dominates Bears continue to closely monitor the stochastic oscillator’s movements The US 500 cash index is edging lower again today after recording a new all-time high of 5,189 last week. Friday’s mixed US labour market data do not […]