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Market picture The crypto market is recovering faster than it was falling, adding another 2.4% in 24 hours to $2.4 trillion. Bitcoin has rallied 15% since Saturday, now testing $66K. Ethereum is trying to cross $3500. Among the top coins, XRP stands out, soaring 12% in a day and 38% in 7 days, taking out […]

The post Crypto Market Reversal Saves XRP & Litecoin from Collapse appeared first on Action Forex.

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24/01/2024

Gold Price Recovery Faces Hurdles, Bitcoin Dives

Key Highlights Gold prices are struggling to recover above the $2,040 resistance. A key bearish trend line is forming with resistance near $2,040 on the 4-hour chart. Bitcoin price declined heavily and traded below $40,000. The US Manufacturing PMI could remain at 47.9 in Jan 2023 (Preliminary). Gold Price Technical Analysis Gold found support near […]
27/01/2024

Sunset Market Commentary

Markets European bond markets still opened stronger in the wake of yesterday’s unconvincing press conference by ECB President Lagarde. The move lacked momentum though with first individual ECB members sounding more hawkish than Lagarde did. We must admit that it weren’t the most high-profile representatives though. Latvian ECB Kazaks admits that rates should start to […]
19/08/2024

RBA’s Bullock Says No Rate Cuts Coming, Aussie Soars

The Australian dollar has started the week with slight gains. AUD/USD is trading at 0.6685 in the European session, up 0.24% on the day at the time of writing. Earlier today, the Australian dollar rose as high as 0.6694, marking a one-month high. Will RBA minutes shake up the Aussie? Hawkish remarks from Reserve Bank […]