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Bitcoin rebounds after hitting support near 90,600 This could mean that the bearish correction is over  A break above 100,000 could signal uptrend continuation For the picture to turn bearish, a dip below 66,700 may be needed BTCUSD rebounded on Wednesday, after hitting support near the 90,600 zone on Tuesday. Although the crypto king corrected […]

The post BTCUSD Ends Bearish Correction Near the 90,600 Zone appeared first on Action Forex.

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20/03/2024

UK Inflation Sets Up a Marathon for BoE

UK inflation has come in slightly weaker than expected, but this does not significantly bring the rate cut date any nearer. The CPI rose by 0.6% in February after a similar fall in January. Annual inflation slowed to 3.4% from 4.0%, vs expected 3.5%. Core CPI slowed its rise to 4.5% y/y in February after […]
09/04/2024

EUR/USD: Holds in Extended Sideways Mode, Initial Negative Signals Developing on Daily Chart

Near-term action remains in a directional mode and ranging between converged 55/200DMA’s (1.0831) and 100DMA (1.0871). Strong rejections in both directions in past few sessions add to neutral stance, with the pair looking for fresh direction signals. Daily studies are mixed, though 14-d momentum bearish divergence and overbought stochastic seen as warning. Expect initial bearish […]
10/09/2024

Brent Remains Under Pressure: China and Rapid Growth in OPEC+ Production to Blame

The oil market remains under pressure. A barrel of Brent oil declined to 71.80 USD by Tuesday. The commodity erased all early-week gains as fears of slowing demand in China outweighed the risk of energy shortages due to the storm in the Persian Gulf. In recent weeks, market participants have been paying close attention and […]