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BTCUSD extends sideways move in narrow range The 200-period SMA rejects any upside attempts Momentum indicators deep in their negative zones BTCUSD (Bitcoin) has experienced a strong decline from its recent two-year peak of 49,051, dropping to as low as 41,400. Although the short-term oscillators have been tilted to the downside for the past few four-hour sessions, […]

The post BTCUSD Stuck in Tight Range appeared first on Action Forex.

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02/08/2024

Bank of England Joins Central Bank Rate Cut Club

Summary The Bank of England (BoE) joined the growing group of G10 central banks that have eased monetary policy, by delivering an initial 25 bps policy rate cut to 5.00% at today’s monetary policy announcement. The guidance from the BoE’s announcement was also somewhat cautious, for now likely arguing against a steady series of rate […]
08/03/2024

WTI Oil Futures in Fierce Battle with 50.0% Fibo

WTI futures jump above the 200-day SMA But fail to conquer the 50.0% Fibonacci level Oscillators suggest intensifying positive momentum WTI oil futures (April delivery) have been staging a comeback after finding their feet at the 68.00 region in December. However, the recovery seems to have been on hold for the past few sessions as the […]
19/07/2024

EURJPY Wave Analysis

EURJPY reversed from support area Likely to rise to resistance level 172.95 EURJPY currency pair today reversed up from the support area located between the pivotal support level 170.95 (which stopped the pair in April and May), lower daily Bollinger Band, 50% Fibonacci correction of the upward impulse from June and the support trendline of […]