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Market picture The Fed’s comments returned risk appetite to global markets, immediately bringing buyers back to cryptocurrencies. In 24 hours, total market capitalisation rose 7.7% to $2.55 trillion. Bitcoin is showing roughly the same amplitude of growth, but Ethereum and Solana are adding around 10%. Bitcoin has held within a classic correction, never falling below […]

The post Crypto Finished Its Pullback Thanks to Fed appeared first on Action Forex.

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26/01/2024

EUR/GBP: Initial Reversal Signals Need More Work at the Upside for Validation

EURGBP rose in early Thursday’s trading, adding to initial signal of formation of reversal pattern on the daily chart, after Wednesday’s action ended in long-legged Doji candle, signaling indecision. Oversold studies contributed to fresh profit-taking, though 14-d momentum is still in negative territory, signaling that underlying bears remain firmly in play for now. Fresh gains […]
09/08/2024

USDCAD Bears Take a Break But Are Not Done Yet

USDCAD experiences worst week of the year Selling pressure might persist; eyes on 1.3730 Canadian employment figures due at 12:30 GMT Since reaching a 22-month high of 1.3945, USDCAD has been steadily dropping towards its 50-day SMA at 1.3730, making it the worst-performing week of the year. The broken resistance trendline drawn from April’s peak is […]
26/06/2024

USD/JPY: Probes Again Through 160.00 Barrier and Hits New Multi-Decade Highs

USDJPY hit new multi-decade high above 160 on Wednesday, as bulls regained control after a two-day consolidation. Fresh probe above psychological 160 barrier suggests that bids remain strong despite warning that Japan’s authorities may intervene to support weakening national currency, with 160 zone seen as a likely trigger. Strong bids were also signaled by long […]