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Market Picture The crypto market continues to retreat, having lost 4.4% to $3.36 trillion in the last 24 hours and already over 11% from the all-time peak of $3.79 trillion set on Tuesday. While the sell-off in stock markets has slowed, cryptocurrencies are maintaining or even picking up the pace of the decline. This return […]

The post How Deep Will Crypto Dive? appeared first on Action Forex.

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EUR/USD Battles Headwinds: Bulls Face Tough Terrain

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03/05/2024

EUR/USD: Bulls Hold Grip and Pressure Pivotal Barriers, US Labor Data Eyed for Fresh Signals

The Euro keeps firm tone and extends gains into third consecutive day, pressuring key resistances at 1.0750 zone (50% retracement of 1.0885/1.0601 / daily Kijun-sen). Firm break here to generate fresh bullish signal for extension of the bull-leg from 1.0601 (Apr 16) where larger downtrend was contained by a double-Fibo support (38.2% of 0.9535/1.1275 / […]
14/06/2024

EUR/GBP: At New Multi-Month Low But Bears May Pause on Oversold Conditions

EURGBP hits new multi-month low (the lowest since early Aug 2022) on Friday and is on track for the biggest weekly loss since the first week of January, after starting to trade this week with gap lower, weighed by growing political uncertainty in France. Bears cracked psychological 0.8400 support and eye target at 0.8339 (2 […]
09/04/2024

Japanese Yen Steady as Intervention Worries Continue

The Japanese yen is drifting on Tuesday. In the European session, USD/JPY is trading at 151.88, up 0.02%. It’s as light data calendar today. Japan’s average cash earnings rose 1.8% y/y in February after a 2% gain in January. This beat the market estimate of 1.4%. Still, the better-than-expected wage growth release didn’t provide a […]