Elliott Wave Outlook: DAX Set to Rally Higher in Wave 5

Elliott Wave Outlook: DAX Set to Rally Higher in Wave 5

Since April 7, 2025, the DAX Index has been advancing in a clear impulsive cycle, originating from a low that has set the stage for a structured upward movement. The initial advance, wave 1, concluded at 20468.43. It was followed by a corrective pullback in wave 2, which found support at 19384.39. The subsequent rally […]

The post Elliott Wave Outlook: DAX Set to Rally Higher in Wave 5 appeared first on Action Forex.

Gold Drops Below $3,300 as Fed Rate Forecasts Shift

Gold Drops Below $3,300 as Fed Rate Forecasts Shift

Gold prices fell below 3,300 USD per troy ounce on Wednesday, extending losses after a 1% decline the previous day. The downward pressure stemmed from the Federal Reserve’s cautious stance, which partially offset concerns over escalating trade tensions. US President Donald Trump dismissed any further delays to tariff hikes set for 1 August, announcing additional […]

The post Gold Drops Below $3,300 as Fed Rate Forecasts Shift appeared first on Action Forex.

German Chancellor Merz: Cautiously optimistic on EU trade deal with the US

  • Cautiously optimistic on EU trade deal with the US.
  • I am optimistic we can agree deal with USA by the end of this month.
  • I am in intensive contact with US government as well as EU Comission on tariffs.

This follows other news that seem to suggest that negotiations got sped up and a deal or something that looks like it could be within close reach. Trump is likely to get away with the 10% tariff though but will likely make other concessions to secure the deal.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

AUD/USD Attempts Fresh Climb as NZD/USD Slips

AUD/USD Attempts Fresh Climb as NZD/USD Slips

AUD/USD is attempting a fresh increase from the 0.6485 support. NZD/USD is struggling and might decline below the 0.5980 level. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar found support at 0.6485 and recovered against the US Dollar. There is a key bearish trend line forming with resistance at 0.6535 on the […]

The post AUD/USD Attempts Fresh Climb as NZD/USD Slips appeared first on Action Forex.

Multiple, Often Diffuse, Trade Headlines Leave Little Visibility to Set Up Directional Trades

Multiple, Often Diffuse, Trade Headlines Leave Little Visibility to Set Up Directional Trades

Markets Markets headlines yesterday still were dominated by the ongoing flurry of trade-war communication as launched by US president Trump. Even so, in particular on interest rate markets, global public debt sustainability was at least as important as a market driver. The trigger again came from two ‘market outsiders’: the UK and Japan, with the […]

The post Multiple, Often Diffuse, Trade Headlines Leave Little Visibility to Set Up Directional Trades appeared first on Action Forex.

EU will be firm, working closely with US to reach an agreement – von der Leyen

  • EU is getting ready for all scenarios

Both sides look to be working towards a temporary “framework” agreement as outlined here. However, there might be a sticking point on agrifood so we’ll have to see. The EU has maintained that they will fight back if need be but for now, a temporary “deal” will at least help to kick the can down the road for a few more weeks/months.

This article was written by Justin Low at www.forexlive.com.

China calls out EU to readjust its attitude on trade relations

  • EU need to readjust its attitude, not China
  • Hopes EU can uphold more positive, practical policy towards China
  • Hopes for positive bilateral economic and trade relations
  • EU’s public procurement market is far from being fair and open as they claim it to be

In case you’re wondering what this is related to: China restricts government purchases of medical devices from the EU – retaliation

This article was written by Justin Low at www.forexlive.com.

European stocks keep slightly higher to kick start the day

  • Eurostoxx +0.3%
  • Germany DAX +0.3%
  • France CAC 40 +0.3%
  • UK FTSE +0.3%
  • Spain IBEX +0.6%
  • Italy FTSE MIB +0.3%

The latest report here on a EU-US deal is helping with the mood, as the EU will be slapped with lower tariffs as both sides continue to negotiate. The deadline though looks set to go past 1 August but again, it’s a matter of whether or not Trump will lose his patience before then. As for the broader market mood, things are more tentative on the day. S&P 500 futures are down 0.06% as we get the session underway.

This article was written by Justin Low at www.forexlive.com.