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BTCUSD edged higher on Friday and hit new three week high, in attempts to extend 4.6% advance on Thursday. Bitcoin received strong boost from Fed rate cut and underpinned by dovish shift in global rate view. Technical picture is bullish on daily chart (multiple MA bull-crosses / 14-d momentum is in steep ascend), but bulls […]

The post BTCUSD – Bulls Likely to Take a Breather Following Repeated Failure at 200DMA Barrier appeared first on Action Forex.

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25/07/2024

Stock Routs Undermine the Image of Ethereum ETF Launch

Market picture The pressure on financial markets has spread to cryptocurrencies – the flip side of the long-desired easing of institutional access to the crypto market. The launch of the Ethereum ETF coincided with the most powerful drop in the Nasdaq index in months. The cryptocurrency market lost 3.5% in the last 24 hours, pulling […]
19/08/2024

EURUSD Tests 1.1050 Tricky Area

EURUSD flirts with 8-month high again Remains well above the long-term symmetrical triangle 50- and 200-day SMAs ready for bullish cross Momentum oscillators confirm upside move EURUSD has been in a bullish move, especially after the rally above the long-term symmetrical triangle last week. The pair is again battling with the almost eight-month high of 1.1050, with […]
31/05/2024

Euro Suffers When ECB Announces the First Rate Cut of the Cycle

ECB prepares to cut rates for the first time ahead of the Fed History points to strong possibility of back-to-back rate cuts Both the euro and German DAX tend to underperform on meeting day The ECB is on the brink of announcing its first rate cut since March 2016 as the overall rhetoric from ECB […]