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Yesterday was a slow Monday. The US and the UK markets were closed, the news flow was light and the trading volumes were thin. The barrel of US crude trades a touch below its 100-DMA. The tense geopolitical setup is supportive of further gains along with the rising US demand into summer and OPEC’s restrictive […]

The post Oil Gains on Mounting Mid-East Tensions, China Support appeared first on Action Forex.

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12/04/2024

Dollar Holds Better Cards Against Both Euro and Pound

Markets The ECB laid the groundwork for a June rate cut yesterday and that was basically all there was to say about it. Lagarde revealed some wanted to cut rates already and reports afterwards wrote about a handful of officials that needed extra convincing to rally behind the decision to stand pat for a little […]
19/04/2024

Halving Helped Bitcoin Digest Sell-off

Market picture The crypto market was relatively quick to digest the sell-off that gripped markets following Israel’s attack on Iran. The capitalisation rose 4.7% in 24 hours to $2.33 trillion, but this is down from $2.62 trillion seven days earlier. Halving and strong technical support are supporting a ‘buy on dips’ pattern in Bitcoin, and […]
22/07/2024

BTC/USD Analysis: Price Approaching Key Resistance

Analysing the long-term BTC/USD chart on 16th May, we created a “roadmap” for Bitcoin’s price, which looked like an expanding fan and consisted of a median line with support levels below it and resistance levels above it. Today, when analysing the BTC/USD chart, we will remove the fan lines to shift the focus to Bitcoin’s […]