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Key Highlights Crude oil bulls are eyeing an upside break above the $81.00 resistance. A major bullish trend line is forming with support at $78.40 on the 4-hour chart. Gold prices extended gains above the $2,032 resistance. Bitcoin trimmed most losses and could extend its increase above $70,000. Crude Oil Price Technical Analysis After struggling […]

The post Crude Oil Price Aims Higher As Dollar Takes Hit appeared first on Action Forex.

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09/05/2024

BTCUSD Retreats After Unsuccessful Test of 50-SMA

BTCUSD drops after failing to claim 50-day SMA The price extends its series of lower highs and lows Momentum indicators are tilted to the downside BTCUSD (Bitcoin) had been in a slow but steady recovery since its bounce off the two-month bottom of 56,483. However, the rebound faltered and the price reversed back lower following its second […]
25/06/2024

EURJPY Wave Analysis

EURJPY approaching strong resistance level 171.55  Likely to correct down from 171.55 EURJPY currency pair approaching the strong resistance level 171.55 (which stopped the previous sharp upward impulse wave 1 at the end of April, as you can see below). The resistance level 171.55 is further strengthened by the upper daily Bollinger Band. Given the […]
28/10/2024

EUR/USD Edges Higher, German Consumer Confidence Next

The euro has started the new trading week with slight gains. In the North American session, EUR/USD is trading at 1.0817 at the time of writing, up 0.22% on the day. The euro has reeled off four consecutive losing weeks, declining 2.6% during that period. There are no economic releases out of the eurozone or […]