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Market picture The cryptocurrency market is under pressure, losing 6% of its capitalisation in the last 24 hours to $2.6 trillion. Bitcoin is losing almost 7% in 24 hours, at one point wiping out last week’s gains and falling to $66.7K. We note that the current area of active buying is below last week’s selling […]

The post Bitcoin Could Correct to $60K appeared first on Action Forex.

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05/06/2024

NZDCAD Wave Analysis

NZDCAD broke resistance level 0.8400 Likely to rise to resistance level 0.8500 NZDCAD currency pair recently broke strong resistance level 0.8400 (which previously reversed the pair multiple time sin November and December). The breakout of the resistance level 0.8400 accelerated the active impulse wave 3, which belongs to the higher order impulse wave (C) from […]
03/07/2024

USDJPY Flies to Another Higher High at 161.92

USDJPY continues its ascending move Technical oscillators still ticking up USDJPY is creating higher highs, unlocking a fresh 38-year high of 161.92 earlier in the day. The rebound off 154.50 is still in progress, while the technical oscillators are still heading north. The RSI is developing above its uptrend line in the overbought territory, the MACD is […]
28/03/2024

GBP Consolidates Amid Concerns Over Economic Growth and Wage Trends

The GBP/USD pair is currently consolidating, hovering around the 1.2631 mark. This consolidation phase follows recent reports highlighting a slowdown in the expansion plans of British businesses for workforce and wage growth, raising concerns about future economic dynamics and inflationary pressures. A key report from the Lloyds Bank Business Barometer indicates a noticeable dip in […]