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Mixed PMI data from various Euro area countries led to a surge in volatility for European currency pairs on Thursday morning. Preliminary estimates for France surprised with their strength. The manufacturing PMI jumped from 43.1 to 46.8 (43.5 expected). The services index rose from 45.4 to 48.0 (45.7 expected). These figures came well above expectations, […]

The post Disappointing German Manufacturing Halted Euro’s Flight appeared first on Action Forex.

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09/08/2024

USD/JPY In An Uphill Battle: Can It Push Higher?

Key Highlights USD/JPY is attempting a fresh increase from the 141.65 support zone. A major bearish trend line is forming with resistance at 150.00 on the 4-hour chart. Oil prices might struggle to climb above the $76.60 resistance. EUR/USD corrected gains but the bulls seem to be active above 1.0850. USD/JPY Technical Analysis The US […]
05/07/2024

EUR/USD Advances, DXY Eyes Trendline Break – Jobs Data Up Next

EUR/USD rises above 1.0800 due to weak US economic data and a weaker USD. Market anticipates a 71.6% chance of a rate cut in September. DXY is at a psychological support level ahead of US jobs data release. EUR/USD continued its upward momentum on US Independence Day, capitalizing on a weaker USD and low market […]
16/04/2024

S&P 500 Wave Analysis

S&P 500 falling inside sharp c-wave Likely to fall to support level 5000.00 S&P 500 index continues to fall inside the sharp c-wave of the minor ABC correction ii from the end of last month. The price earlier broke the support levels 5100.00 and 5140.00, which strengthened the bearish pressure on these index . Given […]