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Market picture Gold’s historic highs and the surge in risk demand at the end of last week did not spare cryptocurrencies. Cryptos experienced impressive gains on Monday, but one cannot leave aside the weekend bull run as well. The crypto market capitalisation reached 1.55 trillion, adding 10.5% in seven days. Bitcoin proved that the smooth […]

The post Bitcoin Accelerated Growth appeared first on Action Forex.

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05/06/2024

Bank of Canada Cuts Its Policy Rate to 4.75%!

The Bank of Canada cut the overnight rate to 4.75% (from 5.0%), while stating that it will continue with Quantitative Tightening (QT). The Bank spoke confidently about the economy, stating “economic growth resumed in the first quarter of 2024 after stalling in the second half of last year.” It highlighted that “consumption growth was solid […]
14/05/2024

GBPUSD Advances Above 200-Day SMA

GBPUSD looks neutral in very short-term A jump above 1.2630 could add some optimism Stochastic and MACD are mixed GBPUSD has successfully jumped above the 200-day simple moving average (SMA) with the next crucial obstacle coming from the short-term downtrend line and the 50-day SMA around 1.2590. Technically, the MACD oscillator is still developing with […]
01/07/2024

EUR/USD Rate Rises After First Round of Voting in France

According to Reuters, exit polls show that Marine Le Pen’s far-right party, the National Rally (RN), won the first round of parliamentary elections in France on Sunday. The financial market reacted to this with a rise in the euro’s exchange rate against other currencies. Specifically, the EUR/USD rate jumped to its highest level since June […]