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Market picture The crypto market correction continues to deepen, although there have been some signs of stabilisation since the start of the day on Wednesday. The decline has continued for a whole week, reducing the market cap by almost 15%. The total cap was down to $2.28 trillion on Wednesday morning, rising to $2.35 trillion […]

The post Bitcoin and Ethereum Seek Support appeared first on Action Forex.

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14/03/2024

Sunset Market Commentary

Markets: The ECB released a statement on the changes to the operational framework for implementing monetary policy. In the new framework (cf infra), the ECB will provide liquidity through a mix of instruments including the main refinancing operations (MRO’s), new structural longer-term refinancing operations and a structural portfolio of securities. However, the deposit rate facility […]
11/06/2024

Key Factors Influencing AUDUSD: Analysis and Trading Scenarios

Bearish scenario: Sell below 0.6597 with TP1: 0.6587, TP2: 0.6579, and TP3: 0.6558, with an S.L. above 0.6611 or at least 1% of account capital. Bullish scenario: Buy above 0.6611 with TP1: 0.6626 and TP2: 0.6646, with an S.L. below 0.6597 or at least 1% of account capital. Apply a trailing stop. Fundamental Analysis The […]
03/09/2024

September Caution

The new week started with caution. The US and Canada were off, and news from Europe weren’t exceptional. The data released on Monday showed that the manufacturing PMI figures for August were slightly higher than expected, but numbers in major Eurozone countries remained below 50, in the contraction zone for another month. The German manufacturing […]