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Market picture The cryptocurrency market has pulled back 0.7% to $2.37 trillion from local extremes in the last 24 hours while remaining around highs. This looks like localised profit-taking after the rally, but not exhaustion. For Bitcoin, it is technically significant that the current consolidation around $64K is taking place above the 50-day moving average, […]

The post Crypto Market Cools Off After Spurt appeared first on Action Forex.

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07/03/2024

Dollar Index outlook: Dollar Falls Further on Rising Bets for Fed Rate Cut

The dollar index falls to five-week low on Thursday, remaining under increased pressure from growing expectations for June rate cuts. Fed Chair Powell added to expectations by relatively dovish remarks in his testimony on Wednesday, saying that rate cuts will likely be appropriate later this year if economy evolves broadly as expected. Markets shift focus […]
11/01/2024

Technical Outlook and Review

DXY: The DXY chart currently exhibits a bearish overall momentum, indicating a weakened US Dollar. In this scenario, there’s potential for a bearish continuation towards the 1st support level. The 1st support at 101.77 is significant for several reasons. It is categorized as an overlap support and coincides with the 50% Fibonacci Retracement level, making […]
21/05/2024

Metals Shine

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