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Market picture The crypto market has been going around in circles since 13 January, staying near levels 24 hours ago, although Bitcoin’s intraday range exceeded 3.5%. Reaching the highs of the recent trading range triggered a methodical sell-off early on Wednesday and quickly spread to the major altcoins. Bitcoin made local highs late on Tuesday, […]

The post A Bearish Lull in Crypto? appeared first on Action Forex.

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22/03/2024

AUD/USD and NZD/USD Signal More Losses

AUD/USD declined below the 0.6575 and 0.6550 support levels. NZD/USD is also moving lower and might trade below the 0.6000 zone. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar started a fresh decline from well above the 0.6600 level against the US Dollar. There was a break below a connecting bullish trend […]
11/04/2024

USD/JPY: Hit New Multi-Decade High after Strong US CPI Numbers, Intervention Looms

USDJPY is consolidating near new multi-decade high above 153 mark, after surging around 1% on stronger than expected US inflation data. Eventual break above narrow two-week range generates initial signal of bullish continuation of the latest bull-leg from 146.48 ((Mar 11 low) and exposes targets at 154.66 (Fibo 123.6% projection and 155.75 (1990 peak). On […]
21/03/2024

Gold Wave Analysis

Gold reversed from key support level 2150.00 Likely to rise to resistance level 2197.00 Gold earlier reversed up from the key support level 2150.00 (former strong resistance, which stopped the earlier upward impulse wave (1) in December). The upward reversal from the support level 2150.00 started the active impulse wave 3, which belongs to the […]