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Market picture The crypto market is losing about 4.5% from its peak on Friday, having reversed to the downside after news positive for the dollar. Another batch of labour market figures well above expectations has raised doubts that the Fed will soon follow the ECB and Bank of Canada in cutting rates. This shift in […]

The post Headwinds Knocked Down Bitcoin & Ethereum appeared first on Action Forex.

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28/06/2024

USD/JPY Bulls Reign Supreme: Insights Into The Bullish Trend

Key Highlights USD/JPY rallied and tested the 160.80 zone. A major bullish trend line is forming with support at 159.80 on the 4-hour chart. EUR/USD is consolidating above the 1.0670 support zone. GBP/USD spiked lower toward 1.2600 before it recovered some losses. USD/JPY Technical Analysis The US Dollar remained in a strong uptrend above the […]
08/07/2024

EUR/USD Recovers and Bulls Are Not Done Yet

Key Highlights EUR/USD recovered above the 1.0800 resistance zone. A key bullish trend line is forming with support at 1.0790 on the 4-hour chart. GBP/USD climbed above the 1.2750 and 1.2800 resistance levels. Gold prices surged above the $2,380 resistance zone. EUR/USD Technical Analysis The Euro formed a base above the 1.0670 level against the […]
25/05/2024

Weekly Focus – Euro Economy on Track for Mild Recovery

Economic news was to the solid side this week with not least euro area PMIs painting a stronger picture. The main surprise came from manufacturing PMI which increased from 45.7 to 47.4 (consensus 46.1) while the service sector stayed at a decent level of 53.3. The service report highlighted the strength of the labour market […]