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ETHUSD posts fresh 2-month high following ETF approval But sustains some losses as advance seems overstretched Momentum indicators ease from overbought conditions ETHUSD (Ethereum) has been on the rise after claiming the 50-day simple moving average (SMA) in mid-May. Moreover, the regulatory approval of spot-Ethereum ETFs in the US boosted the price to a fresh […]

The post ETHUSD Pulls Back from 2-Month High appeared first on Action Forex.

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15/04/2024

Euro Ends Slide as Industrial Production Rebounds

The euro has stabilized on Monday after sustaining sharp losses on Friday. In the European session, EUR/USD is trading at 1.0656, up 0.14%. The US dollar posted strong gains last week against the majors and surged 1.8% against the euro, which fell to a six-month low. Eurozone industrial production rebounded 0.8% m/m in February following […]
04/01/2024

GBP/USD Posts Modest Losses Above the Mid-1.2600s Ahead of US ADP Report

GBP/USD clings to mild losses near 1.2665 on the firmer USD. Richmond Fed Barkin said the potential for additional rate hikes remains on the table. The fear of recession in the UK economy weighs on the British pound (GBP). Investors await the UK Composite PMI and the US ADP Employment Change. The GBP/USD pair posts […]
21/03/2024

USDJPY Reaction to Fed and BoJ Decisions

Fed and BoJ decisions have some impact on USDJPY Daily chart shows some weakness for the next few sessions But weekly chart looks strongly bullish FOMC decision drives dollar lower The dollar declined following the FOMC meeting on Wednesday, as Federal Reserve Chair Powell adopted a more accommodative stance. Policymakers have maintained the dot plot’s view for this year, […]