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EURUSD opened with gap-lower on Monday but dip was short-lived and larger bulls regained control and pushed the price towards last Friday’s new multi-week high (1.0842). Today’s dip was contained by psychological 1.0800 support (also the top of rising hourly cloud) with subsequent move higher emerging above the top of daily Ichimoku cloud after a […]

The post EUR/USD Outlook: Bullish Bias Above Daily Cloud appeared first on Action Forex.

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09/12/2023

Fed Preview: Low-Key Optimism

Fed Preview: Low-Key Optimism We do not anticipate the Fed to make changes to its monetary policy in the December meeting, in line with broad consensus and market expectations. Focus will be on the updated economic projections, where the 2024 ‘dot’ could be revised slightly lower, yet still above market pricing. Growth forecasts could be […]
02/08/2024

Bitcoin Fends Off Bear Attack, Clinging to Levels

Market picture The crypto market lost 0.75% in 24 hours to $2.29 trillion. A day earlier, we noted a decline in cryptocurrencies in contrast to the positivity in equities on Wednesday, and then synchronised selling prevailed on Thursday. Meanwhile, the sentiment index remains at 57 (greed). This is bad news for the market right now, […]
21/12/2023

WTI Crude Oil Hovers Near the Upper Boundary of the Channel

WTI crude attempts to surpass 74.00 Immediate resistance near 200-day SMA Stochastic looks overbought WTI crude oil futures are battling with the 74.00 round number, within a downward sloping channel that has been drawn since September 28. Technically, the MACD is advancing above its trigger line in the negative territory, while the stochastic oscillator is […]