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Key Highlights Ethereum is eyeing a key upside break above the $4,000 resistance zone. ETH price is facing hurdles near a contracting triangle with resistance near $3,950 on the daily chart. Bitcoin price started a decent increase above $98,000 after a short-term downside correction. Gold prices extended gains and traded above the $2,700 zone. Ethereum […]

The post Ethereum Sets Sights on New All-Time High: Can It Deliver? appeared first on Action Forex.

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10/09/2024

USDCHF Wave Analysis

USDCHF reversed from support level 0.8400 Likely to rise to resistance level 0.8550 USDCHF currency pair recently reversed up from the key support level 0.8400 (which has been reversing the price since the end of last year). The upward reversal from the support level 0.8400 created the daily Japanese candlesticks reversal pattern Long-legged Doji. Given […]
27/09/2024

Gold Outlook: Limited Pullback from New Record High to Precede Final Attack at $2,700 Target

Gold price eased on Friday after the metal hit new record high on Thursday, with end-of-week partial profit taking being behind the move. Pullback was so far shallow and the price unlikely to make a stronger dip, but rather consolidation and positioning for fresh push higher. Sentiment remains firmly bullish in current circumstances of growing […]
10/10/2024

September CPI: Minor Turbulence

Summary The September CPI report came in slightly hotter than expected, but not enough to meaningfully change the outlook for U.S. inflation. Headline CPI rose 0.2% in the month, while excluding food and energy prices consumer price inflation was a tenth stronger at 0.3%. A 4.1% drop in gasoline prices helped restrain overall inflation, although […]