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Short Term Elliott Wave View in Bitcoin (BTCUSD) suggests that cycle from 2.1.2024 low is in progress as an impulse. Up from 2.1.2024 low, wave ((i)) ended at 52998 and dips in wave ((ii)) ended at 50639.8. The crypto currency extended higher in wave ((iii)) towards 64105.7. Internal subdivision of wave ((iii)) unfolded as a […]

The post Bitcoin (BTCUSD) Next Bullish Leg In Progress appeared first on Action Forex.

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19/06/2024

BoE Still Has Work to Do to Bring Inflation Back Under Control

Markets Market focus shifted back to the US yesterday. After last week’s softer than expected price data, US retail sales for the second consecutive month suggested that consumer demand might be slowing. It could point to a better supply-demand balance that might help inflation to slow further. May headline sales only rose a meagre 0.1% […]
13/06/2024

June FOMC: Sitting, Waiting, Wishing

Summary As expected, the Federal Open Market Committee left the federal funds rate target range unchanged at 5.25-5.50% at the conclusion of its meeting today. Yet the latest Summary of Economic Projections showed most participants continue to expect at least some reduction in the fed funds rate before the year is out. The median projection […]
17/06/2024

Not So Cheery

Last week was brilliant for the major US indices but gloomy elsewhere. The S&P500 was slightly down on Friday, but the index posted its best weekly advance in a month on the back of a surprise easing in CPI figures and a not-too-hawkish Federal Reserve (Fed) statement. Nasdaq, on the other hand, closed last week […]