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Markets Markets initially looked on track for yet another session of summertime technical trading yesterday, counting down to Friday’s Jackson Hole address of Fed Chair Powell. European equities outperformed (EuroStoxx 50 +0.89%) as markets pondered progress in talks to end the war between Russia and Ukraine. (EMU) yields initially maintained recent gains. However, in US […]

The post Not Convinced Further Correction in (US Tech) Stocks Will Help Dollar appeared first on Action Forex.

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21/02/2025

FTSE 100 Wave Analysis

FTSE 100 broke support zone  Likely to fall to support level 8600.00 FTSE 100 Index previously broke the support zone between the support level 8700.00 (which created daily Bullish Engulfing earlier this month) and the 38.2% Fibonacci correction of the upward impulse from January. The breakout of this support zone accelerated the active short-term ABC […]
06/02/2025

ISM Services Index Falls to Start 2025, But Continues to Signal Hrowth 

The ISM Services index fell 1.2 points to 52.8 in January, slightly short of the 54.0 consensus was expecting. However, fourteen industries out of eighteen reported growth, up from nine in December and back in line with November. Business activity tumbled last month, falling 3.5 points to 54.5, more than giving back last month’s improvement […]
08/05/2024

S&P 500 Wave Analysis

S&P 500 reversed from support level 5000.00 Likely to rise to resistance level 5300.00 S&P 500 index recently reversed up from the support zone lying between the round support level 5000.00 (which also stopped the previous correction (2)), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from January. The upward […]