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Key Highlights Bitcoin price started a consolidation phase below the $100,000 zone. A connecting bearish trend line is forming with resistance at $97,500 on the 4-hour chart. Ethereum price seems to be facing hurdles near the $3,750 zone. XRP extended its surge toward $2.85 before correcting some points. Bitcoin Price Technical Analysis Bitcoin price made […]

The post Bitcoin Uphill Climb: Can The King of Crypto Break Through? appeared first on Action Forex.

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03/07/2024

Cable Ready to Correct Deeper Going into UK Elections

Cable is turning south for the last few weeks, as price stopped at the trendline connected from 2023 high so we certainly should not be surprised by current retracement. Break below the channel support also confirms a corrective phase for the pound, against the previous five wave rise, especially after latest UK CPI figures and […]
25/04/2024

JPY Weakness Extends

In focus today In the US, today’s focus will be on Q1 flash GDP data, where consensus expects growth to moderate to 2.4% Q/Q AR (Q4 3.4%). Private consumption has remained on a gradually cooling, yet steady trend, while private manufacturing investments and public state and local investments are still supported by past stimulus measures. […]
30/01/2024

EURJPY Starts a New Bearish Cycle

EURJPY trims January’s gains within bullish channel Short-term risk skewed to the downside EURJPY started a new bearish cycle within a short-term upward-sloping channel, pulling from a one-and-a-half month high of 161.85 to reach a low of 159.20 on Tuesday. Technically, the 78.6% Fibonacci retracement of the previous downleg halted January’s rally, with the 20- and […]