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Market picture The crypto market continues to avoid gaining momentum on the upside but remains within an uptrend: the bulls fail to accelerate price gains, but the overall upward trend remains. ‘Extreme Greed’ persists in the markets, with the corresponding index at 79. In contrast, the sentiment in the stock markets is almost ‘Neutral’. Bitcoin […]

The post Cryptocurrencies Look Stronger Than Stocks appeared first on Action Forex.

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16/05/2024

GBP/USD: Bulls Taking a Breather After Five-Day Rally

Cable eases from new multi-week high (1.2700) on Thursday, as bulls faced headwinds from significant resistances at 1.2700 zone, provided by the top of daily Ichimoku cloud and Apr 9-10 tops. In addition, overbought conditions on daily chart prompted traders to partially collect profits from a five-day rally, which accelerated after US inflation data on […]
24/01/2024

NZD/USD Stems Slide, Inflation Next

New Zealand Services PSI eases to 48.8 New Zealand inflation expected to ease to 0.5% The New Zealand dollar has edged higher on Tuesday. In the North American session, NZD/USD is trading at 0.6086, up 0.17%. New Zealand’s economy has struggled in the fourth quarter and a soft services release won’t help things. The Performance […]
07/02/2024

Oil (CL_F) Rally May Fail for More Downside

Short Term Elliott Wave view in Oil suggests that rally from 12.13.2023 low is unfolding as a double three Elliott Wave structure. Up from 12.13.2023 low, wave ((a)) ended at 76.18 and dips in wave ((b)) ended at 72.89. Wave ((c)) higher unfolded as a 5 waves where wave (i) ended at 75.75 and wave […]