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European and American stocks kicked off the week with a pause, as investors took a breather after sending major stock indices in these regions to record highs. The Stoxx 600, the S&P500 and Nasdaq 100 all retreated from an ATH level on Monday. MAMAA stocks were down around 1%, Amazon – which had it first […]

The post Calm Before the Data appeared first on Action Forex.

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24/07/2024

EUR/USD Pares Losses After Weak Eurozone PMIs

The euro edged lower on Wednesday but has recovered. In the North American session, EUR/USD is trading at 1.0860, up 0.07% on the day at the time of writing. Eurozone PMIs weaker than expected Eurozone PMIs can be viewed as monthly report cards for the services and manufacturing services. The July PMIs decelerated and indicate […]
26/03/2024

Gold (XAUUSD) Looking to Do Larger Degree Correction

Short Term Elliott Wave view in Gold (XAUUSD) suggests that Gold ended the cycle from 12.13.2023 low. Rally from 12.13.2023 low unfolded as an impulse. Up from there, wave ((i)) ended at 2088.48 and dips in wave ((ii)) ended at 1984.37. The metal then resumed higher in wave ((iii)) towards 2195.15 as the 1 hour […]
29/03/2024

The Weekly Bottom Line: Fed in No Rush to Cut Interest Rates

U.S. Highlights New home sales fell in February, but remain fairly flat over the past three months. New home prices, meanwhile, continued to head lower last month, and are now down 13% from their 2022 peak. U.S. GDP growth in the fourth quarter of 2023 was revised up from 3.2% (annualized) previously, to an even […]