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Upon analysing the long-term BTC/USD chart on 16 May, we constructed a “roadmap” for Bitcoin’s price, which appeared as an expanding fan and consisted of a median with support levels below it and resistance levels above it. Analysing the BTC/USD chart last time on 28 June, we pointed out that: → the price broke down […]

The post Bitcoin Falls Below $60k to a Two-Month Low appeared first on Action Forex.

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23/04/2024

Japanese Yen Isn’t Impressed This Morning by Yet Another Verbal Intervention Warning

Markets German and EU swap rates yesterday tested YTD highs in absence of strong market drivers. These technical resistance levels stood their ground with rebounding stock markets (Nasdaq +1.1%) offering some counterweight as well. Unlike yesterday, today’s agenda could be an inspiring one both in EMU and in the US. April PMI confidence indicators are […]
14/05/2024

Morning Report

Key themes: Markets were in a holding pattern overnight as investors await key US inflation data later this week. US Fed Chair Powell is also due to speak, possibly providing further insights on future rate moves. US equities were mixed and lack direction for most of the session. US bond yields were broadly unchanged, with stronger […]
12/04/2024

Gold Price Hits New High While Crude Oil Price Consolidates

Gold price surged toward the $2,400 zone and traded to a new all-time high. Crude oil is attempting a fresh increase above the $85.00 zone. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a strong increase above the $2,350 zone against the US Dollar. It broke a key bearish trend line […]