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Key Highlights Bitcoin price recovered above $63,500 but faced resistance at $65,500. BTC cleared a key bearish trend line at $63,250 on the 4-hour chart. Crude oil prices extended losses and declined below $78.80. Gold might struggle to start a fresh increase above $2,335. Bitcoin Price Technical Analysis Bitcoin price formed a base and started […]

The post Bitcoin Price Is At Risk of Another Decline – Here’s Why appeared first on Action Forex.

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26/07/2024

Fed Preview: Opening the Door But Not Pre-committing

We expect the Federal Reserve to maintain its monetary policy unchanged next week. Focus will be on upcoming rate cuts, which we expect to begin in September. The two latest CPI prints have built significant confidence in inflation remaining en route to target, but with the economy still on a stable footing, we doubt Powell […]
04/12/2023

Gold Storms to Record High Before Surrendering Intraday Gains

Gold posts a fresh all-time peak of 2,142 on Monday But fails to hold onto its gains, falling back below April high Momentum indicators point at an overstretched advance Gold had been in a steep uptrend since November 10, when the price bounced off the crucial 200-day simple moving average (SMA). On Monday, bullion recorded a fresh […]
31/01/2024

GBP/USD Eyes Fresh Increase, Fed Rate Decision Next

Key Highlights GBP/USD is holding the 1.2620 and 1.2600 support levels. A key declining channel is forming with resistance near 1.2700 on the 4-hour chart. EUR/USD extended losses toward 1.0800 and remains at risk of more downsides. The Fed interest rate decision is scheduled today (forecast 5.5%, versus 5.5% previous). GBP/USD Technical Analysis The British […]