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Cable extends recovery from 1.2540 double bottom (Apr 1 / 2 lows) and pressuring significant barrier at 1.2674 (daily cloud top / Fibo 38.2% of 1.2893/1.2539), as bulls regained traction after a false break below pivotal 200DMA support (1.2586). Near-term action is expected to keep slight bullish bias while holding above 200DMA, though sustained break […]

The post GBP/USD: Slight Bullish Bias Above 200-DMA But Thin Daily Cloud Still Significant Obstacle appeared first on Action Forex.

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03/05/2024

Bitcoin’s Downtrend, Solana and Ethereum Form Double Bottom

Market picture Crypto market capitalisation rose 3.3% in 24 hours to $2.22 trillion. Local capitalisation bottomed near $2.10 trillion, confirming a sequence of declining local lows (2.3 in March, 2.25 in April) and highs (2.76 in mid-March, 2.67 in early April and 2.46 in late April). Ethereum and Solana are adding from the area of […]
21/08/2024

EUR/USD Outlook: Bulls Taking a Breather Under New 2024 High, Eye Fresh Signals from Fed

EURUSD reduced speed after steep rally in past three days which hit new 2024 top (1.1132) just ticks ahead of Dec 2023 top (1.1139). The single currency continues to benefit from risk appetite and weak dollar on Fed rate cut expectations, with release of FOMC minutes today, to shed more light on the depth of […]
29/12/2023

USDCAD Stages a Rebound After Sharp Selloff

USDCAD is recovering following December nosedive Positive momentum is gaining traction but sustained rebound not certain yet Is this just a temporary respite? USDCAD is headed for a third straight day of gains as it recovers from Wednesday’s five-month low of 1.3176. The pair’s two-month old slide accelerated in mid-December, pushing the momentum indicators deep […]