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Key Highlights Bitcoin price crashed below the $60,000 and $58,500 support levels. BTC is trading below a key bearish trend line with resistance at $60,500 on the 4-hour chart. Ethereum tested the $2,850 support before there was an upside correction. Gold prices started a downside correction from the $2,392 level. Bitcoin Price Technical Analysis Bitcoin […]

The post Bitcoin Strives for Recovery: Will It Overcome Major Roadblocks? appeared first on Action Forex.

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19/07/2024

Market Analysis: Gold Price and Crude Oil Price Correct Recent Gains

Gold price started a downside correction from $2,485. Crude oil prices are also moving lower from the $82.20 resistance zone. Important Takeaways for Gold and Oil Prices Analysis Today Gold price climbed higher toward the $2,485 zone before there was a pullback against the US Dollar. A key bearish trend line is forming with resistance […]
18/06/2024

SNB Expected to Cut, But Risk of Disappointment

Expectations of a June cut by the SNB have been gaining traction But inflation picture isn’t entirely favourable; weak franc doesn’t help A lot of uncertainty awaits the SNB’s decision due Thursday at 07:30 GMT Will the SNB cut rates again? The Swiss National Bank (SNB) got the ball rolling with interest rate cuts back […]
18/03/2024

USD/JPY: JPY Plummeted, Ignoring the Possibility of a More Hawkish BoJ

The price actions of the USD/JPY have reacted negatively right below the 150.70 key resistance as highlighted in our previous analysis and shed -435 pips/-2.9% to print a recent intraday low of 146.48 on 8 March. Thereafter, the USD/JPY has drifted higher to trade back above the 148.00 psychological level in light of the “not […]