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Bitcoin advanced over 4% during early trading on Monday, signaling bullish continuation after a brief consolidation in past few sessions. Fresh rise above 65000 (the highest since November 2021) confirms very strong bids and very low supply, despite negative technical signals from overbought studies. Bitcoin has registered record monthly gains of 45% in February, with […]

The post Bitcoin Resumes Rally After Mild Consolidation, Record High in Focus appeared first on Action Forex.

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29/07/2024

Asian Equity Markets Kick Off the week in Good Spirits

Markets Core bonds finished higher last Friday. US Treasury yields were unable to build on Thursday’s Q2 GDP intraday rebound. The release of some economic data including personal income & spending and June PCE deflators wouldn’t call for a net daily yield decline between 3.1 and 5.6 bps but yet that’s exactly what happened. It […]
21/08/2024

USDJPY Weakens Amid Rate Cut Speculation

The USDJPY pair dipped near 146.50 as the US Dollar weakened, with markets anticipating Fed rate cuts starting in September. Japan’s robust Q2 GDP growth has fueled expectations of more rate hikes by the BoJ. The pair remains within Monday’s range as investors await Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium. The […]
10/07/2024

Elliott Wave Intraday Analysis on Silver (XAGUSD) Looking for Dips to Find Support

Short Term Elliott Wave View in Silver (XAGUSD) suggests that pullback to 28.58 ended wave (4). The metal has turned higher again in wave (5) as the 1 hour chart below shows. It still needs to break above the previous wave (3) peak at 32.51 to rule out a larger double correction. Up from wave […]