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Markets Markets build on recent momentum today in absence of eco data of any significance on both sides of the Atlantic. European stock markets correct a second session straight up and over 1% (underwhelming outcome EU Summit?!) with opening losses of similar magnitude in the US. Disappointing earnings by the likes of FedEx and Nike […]

The post Sunset Market Commentary appeared first on Action Forex.

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09/10/2024

NZDUSD Battles With 200-Day SMA After RBNZ’s Rate Cut

NZDUSD continues the bearish correction Technical oscillators are mixed NZDUSD plunged significantly after the RBNZ’s decision to cut interest rates by 50 bps. The pair remained closed to the 0.6100 round number and is holding near the 200-day simple moving average (SMA), which is acting as a strong support level. The technical oscillators are showing […]
30/01/2025

Crypto Got Support, But Not Yet FOMO

Market Picture The cryptocurrency market has not been embarrassed by the lacklustre performance of US equities, gaining 1.8% in the last 24 hours to $3.56 trillion. This is the high of the current week but below the market’s centre of gravity during the consolidation period from 17 to 26 January. The market is still hesitant […]
04/06/2024

WTI Wave Analysis

WTI broke key support level 76.70 Likely to fall to support level 72.00 WTI crude oil recently broke the key support level 76.70 (which has been steadily reversing the price from the middle of February). The breakout of the support level 76.70 coincided with the breakout of the 61.8% Fibonacci correction of the previous upward […]