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Bearish reversal candlestick formed yesterday, its steepest daily loss since 27 October 2023. Odds now have skewed towards a potential minor corrective decline sequence within a medium-term uptrend phase. Watch the 16,800 key short-term resistance. The price actions of the US Nas 100 Index (a proxy for the Nasdaq 100 futures) have continued to rally […]

The post Nasdaq 100 Technical: Potential Start of Minor Corrective Decline appeared first on Action Forex.

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06/12/2023

First Impressions: Australian National Accounts, September Quarter

Australia’s economy hit the wall in the September quarter. Output growth was a very weak 0.2%, or a sharp contraction in per capita terms of -0.5%qtr. Strikingly, consumer spending stalled, with a flat result and a decline in per capita terms of -0.6%qtr, as real disposable income collapsed, contracting -1.3%qtr, -4.3%yr. The Australian economy almost […]
29/03/2024

Bitcoin Fails to Surpass $71K this Week

Market picture The cryptocurrency market is up 0.3% in 24 hours to $2.66 trillion, but it’s not due to reduced volatility. Bitcoin and Ethereum are trading close to the previous day’s levels. Among the top coins, Doge (+7.4%) and BNB (+3.8%) are the best performers. At the other end of the spectrum are Avalanche (-1.3%) […]
05/07/2024

USD/JPY Recedes From Peaks: Analyzing The Pullback

Key Highlights USD/JPY climbed to a new multi-year high at 161.95 before it corrected lower. It traded below a key bullish trend line with support at 161.50 on the 4-hour chart. EUR/USD extended gains above the 1.0785 resistance zone. Oil prices might soon attempt to clear the $85.00 resistance. USD/JPY Technical Analysis The US Dollar […]