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Key Highlights EUR/USD started a fresh increase from the 1.0775 support zone. It broke a key bearish trend line with resistance at 1.0820 on the 4-hour chart. GBP/USD is attempting to recover above the 1.2820 resistance. Bitcoin and Ethereum declined heavily below $60,000 and $2,500 respectively. EUR/USD Technical Analysis The Euro found support near the […]

The post EUR/USD Targets Gains, Bitcoin and Ethereum Nosedives appeared first on Action Forex.

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02/04/2024

WTI Oil: Brightening Demand Outlook Continues to Inflate the Price

WTI oil price continues to trend higher and hit five-month high on Tuesday, probing above $85.00 barrier for the first time since late October. The last bull-leg extends into fourth consecutive day, underpinned by brightening demand outlook on firmer than expected China’s and US economic data, as well as drop in OPEC oil production in […]
07/05/2024

USDJPY – Initial Reversal Signal Requires More Work at the Upside for Confirmation

USDJPY edges higher on Monday after a pullback from new record high (160.19) was contained by strong Fibo support at 151.72 (61.8% retracement of 146.48/160.19 upleg, reinforced by 55DMA). Strong rejection here left a Hammer candle on Friday, initial signal of reversal, which could be boosted if today’s bounce completes a bullish engulfing pattern. However, […]
11/07/2024

S&P 500 Wave Analysis

S&P 500 broke key resistance level 5500.00 Likely to rise to resistance level 5700.00 S&P 500 Index is under the bullish pressure after the price broke above the key resistance level 5500.00, which stopped the previous waves i and b at the end of June. The breakout of the resistance level 5500.00 continues the active […]