The ongoing rally from last Friday, 27 October low has taken on the form of an impending “bearish flag” formation. Coupled with a weak market breadth condition (less than 50% of Nasdaq 100 component stocks are trading above 200-day MA), the rally is likely to be a counter trend rebound within its short and medium-term […]
The post Nasdaq 100 Technical: Counter Trend Rebound at Risk of Exhaustion as Key Risk Events Loom appeared first on Action Forex.
In an interview with the Financial Times, ECB President Christine Lagarde expressed optimism about nearing the inflation target. She remarked that ECB is “very close” to declaring that inflation has been “sustainably” brought back to Read more…
Key Highlights EUR/USD started a recovery wave from the 1.0350 zone. A key bearish trend line is forming with resistance near 1.0450 on the 4-hour chart. GBP/USD is facing hurdles near the 1.2650 and 1.2720 Read more…
EURCHF falling inside minor impulse wave 5 Likely to fall to support level 0.9250 EURCHF currency pair continues to fall inside the minor impulse wave 5, which started earlier from the pivotal resistance level 0.9430 Read more…