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In focus today We have a light schedule on for today. In the US we receive initial jobless claims. The central bank of the Czech Republic announces its policy decision. A Reuters poll expects a 25bp cut in the repo rate to 6.50% from 6.75%. In Sweden, Governor Thedéen from the Riksbank will be speaking […]

The post Chinese Inflation Still Negative appeared first on Action Forex.

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13/12/2023

CADCHF Wave Analysis

CADCHF reversed from resistance level 0.6490 Likely to support level 0.6410 CADCHF currency pair recently reversed down from the strong resistance level 0.6490 (former strong support from October) intersecting with the upper daily Bollinger Band. The downward reversal from the resistance level 0.64879 stopped the previous minor correction ii. Given the predominant daily downtrend, CADCHF […]
04/03/2024

US 500 Battles With 123.6% Fibonacci

US 500 cash index extends its series of record highs Tests 123.6% Fibonacci extension of its 2022 downtrend Oscillators look overbought, increasing risk of a pullback The US 500 stock index (cash) has been staging an impressive rally since it bottomed out in October 2023, generating consecutive all-time highs. Given that the price is trading into uncharted waters, the Fibonacci extensions […]
21/10/2024

Weak German PPI Send the Euro Back Down

Market picture The German Producer Price Index fell more than expected, preventing the EURUSD from extending the rebound seen at the end of last week. Producer prices in Europe’s largest economy fell 0.5% in September (-0.2% expected), accelerating the annual decline to 1.4% (-0.8% expected) from 0.8% in the previous month. The negative annual growth […]