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EURCHF drops to a 4-month low Significant correction over the past 15 days Momentum indicators confirm the bearish pressure EURCHF has been on a freefall since late May with the move picking up pace following the recent European elections and the first ECB rate cut. This pair is currently trading at a 4-month low, around […]

The post Does EURCHF Correction Have Legs? appeared first on Action Forex.

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28/06/2024

Canada’s Economy Rebounded in April, Modest Growth Expected in May

The Canadian economy bounced back in April, up 0.3% month-on-month (m/m). This print landed in line with Statistics Canada’s advanced guidance and market expectations. The flash estimate for May points to a slight advance of 0.1% m/m. April’s reading was broad-based, with output expanding in 15 of 20 industries. The gain was evenly split between […]
15/02/2024

BTCUSD Explodes to More Than 2-Year High

BTCUSD goes parabolic after claiming 50-day SMA Jumps above 50,000 to a fresh more than 2-year peak Momentum indicators look extremely overbought BTCUSD (Bitcoin) has been experiencing a steep advance following its break above the 50-day simple moving average (SMA) on February 7. Within a week, the price violated its two-year peak of 49,051 and surged above […]
11/09/2024

Crypto: Selling on Growth Continues

Market picture The cryptocurrency market lost 0.5% in the last 24 hours, falling to $1.99 trillion. As expected, the market failed to consolidate above the $2 trillion level due to the indecisiveness of major players ahead of the US inflation data. Selling has been prevalent since the start of the day, confirming the tactic of […]