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Markets Poor French growth and inflation data published at the start of European dealings caused European interest rate markets to try a new leg on recent bull run. Yields across the European/German curve touched new cycle correction lows. The EMU flash CPI estimate at -0.5% M/M and 2.4% Y/Y (headline) and 3.6% Y/Y (core) beat […]

The post US Manufacturing ISM Taking Center Stage appeared first on Action Forex.

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09/01/2024

EURUSD Flirts With 20-day SMA

EURUSD rebounds off 1.0875 50- and 200-SMAs post golden cross Price is still well above uptrend line EURUSD is rising somewhat after the pullback off the 1.0875 support level and has been battling with the 20-day simple moving average (SMA) over the last four sessions. It is worth mentioning that the 50- and the 200-day […]
24/01/2024

Crypto’s Decline Looks More Like a Sell-off than a Correction

Market picture The crypto market lost over 5% in 24 hours, to $1.52 trillion. Bitcoin has remained under pressure since the start of the week after pausing in the sell-off on Saturday and Sunday. The persistence of the sell-off has triggered a sell-off in many altcoins, losing with greater amplitude than BTC. The very nature […]
10/06/2024

GBPUSD Wave Analysis

GBPUSD reversed from resistance level 1.2800 Likely to fall to support level 1.2675 GBPUSD currency pair recently reversed down from the key resistance level 1.2800 (which has been repeatedly reversing the price from December) standing near the upper daily Bollinger Band. The downward reversal from the resistance level 1.2800 stopped the previous intermediate ABC correction […]