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AUDUSD eases further on Monday and breaks below 200DMA which marks approximately the mid-point of 0.6525/0.6620 congestion, in which the pair is holding for the fifth straight day. Near-term action lacks clear direction signal while holding within the range, as daily MA’s are in mixed setup and momentum indicator is moving along with the centreline, […]

The post AUD/USD: Holds in Extended Sideways Mode, Awaiting Key Economic Releases for Direction Signals appeared first on Action Forex.

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06/02/2024

Turning the Mill With Carried Water

The selloff in US bonds extended to a second day on the back of crowded hawkish comments from Federal Reserve (Fed) members and on the surprising strength for the US economy. The latest ISM data printed yesterday showed that US services grew at their biggest pace in four months, screaming that the US economy is […]
15/04/2024

Crypto Let Off Steam Rather than Start a Reversal

Market picture It was a non-boring weekend for the cryptocurrency market. Market sentiment swung sharply towards buying the dollar and selling stocks, gold, and cryptos on Friday afternoon. Also operating over the weekend, the crypto market accelerated its decline on Saturday, with capitalisation falling to $2.2 trillion (-18% from Monday’s peak) but began to recover […]
30/01/2024

Bitcoin – Recovery Faces Increased Headwinds at Key Resistance Zone

Narrow sideways mode extends into third consecutive day after recovery from two-month low (38501 of Jan 23) showed signs of stall at key resistance zone (42500). The price action is on track to form the third straight daily Doji candle which points to strong indecision and contributes to signals that corrective phase might be over. […]