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Market picture The cryptocurrency market has corrected by 2%, dropping below $2.3 trillion in market capitalisation. Now, this looks like a technical correction, with the biggest coins pulling back from Thursday night’s highs and holding their positions at the start of Friday’s trading. Bitcoin and Ether are drawing their seventh consecutive daily growth candle, albeit […]

The post Time to Take a Closer Look at Altcoins? appeared first on Action Forex.

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24/04/2024

Elliott Wave Calling for FTSE to Extend Higher

Short Term Elliott Wave view on FTSE suggests that rally from 8.18.2023 low is unfolding as a 5 waves impulse. Up from 8.18.2023 low, wave 1 ended at 7745.82 and pullback in wave 2 ended at 7279.86. Up from there, wave ((i)) ended at 7764.37 and wave ((ii)) pullback ended at 7404.08. The Index then […]
15/12/2023

Sunset Market Commentary

Markets Today’s PMIs marked the end of a busy week. They would either confirm or challenge yesterday’s ECB en BoE case for signaling steady rates for the foreseeable future. It turned out to be the latter for Frankfurt, triggering Bund outperformance vs US Treasuries. German yields currently drop 2.4 (2-y)-9.9 bps (30-y). The 10-y came […]
13/05/2024

Morning Report

Key themes: A sharp fall US consumer confidence added to evidence that the US economy is losing some momentum. However, an uptick in consumer inflation expectations complicated the picture, prompting suggestions of the risk of stagflation. A flurry of Fed speakers reinforced higher for longer messaging but backed up Jerome Powell in watering down the risk […]