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Key Highlights Ethereum started a recovery wave from the $2,800 zone. ETH price is facing resistance near a key bearish trend line at $3,400 on the daily chart. Bitcoin price is struggling to gain pace for a move above the $67,500 resistance. Gold price found support at $2,290 and started a consolidation phase. Ethereum Technical […]

The post Ethereum (ETH) Could Rally If This Resistance Gives Way appeared first on Action Forex.

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30/04/2024

Canada’s Economy Continued to Grow in February, No Growth Expected in March

The Canadian economy grew for a second straight month in February, up 0.2% on a month-on-month (m/m) basis. This print comes in slightly below Statistics Canada’s advanced guidance and market expectations for a 0.4% and 0.3% m/m gain, respectively. The flash estimate for March points to flat growth. February’s reading was broad-based, with output expanding […]
10/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows a neutral overall momentum, suggesting a lack of strong directional bias in the US Dollar. As a result, there is potential for price to fluctuate between the 1st support and 1st resistance levels. The 1st support at 101.77 is considered significant as it aligns with an […]
18/12/2023

Crude: Temporary Recovery Has Room for $75

Crude spiked lower on Friday, but then stabilized on volume late in US session when price moved slightly higher. Energy also stays up after the news that N.Korea fired an unspecified ballistic missile toward East Sea. From an Elliott wave perspective, price is also eyeing higher, we are seeing room for wave C/3 to around […]