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The slowdown in U.S. inflation and a cooling labour market have rekindled investor confidence that the Federal Reserve may soon begin cutting interest rates. As bearish sentiment towards the dollar dominates the market, key currency pairs have approached critical levels, the breach of which could spark new medium-term trends. GBP/USD Technical analysis of GBP/USD suggests […]

The post Pound Near July Highs: What Could Trigger a Breakout? appeared first on Action Forex.

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05/11/2024

AUD/USD Outlook: Hawkish RBA Lifts Aussie Dollar Towards Key Resistance Zone

AUDUSD rose to one week high on Tuesday morning, after the RBA kept interest rates steady at 12-year high and kept hawkish stance on persisting upside inflation risk, although remains ready to act if economy weakens more. Near-term action is holding within a recovery leg from 0.6587 (Oct 30 low) and was boosted by Monday’s […]
22/10/2024

AUD/USD Outlook: Bounce from New Multi-Week Low Needs to Clear Key Barriers to Sideline Larger Bears

AUDUSD bounces from new six-week low in early Tuesday trading after bears repeatedly faced strong headwinds from solid supports at 0.6645/27 (50% retracement of 0.6348/0.6942 / 200DMA). Fresh recovery attempts pressure strong barriers at 0.6695 (100DMA / daily cloud top) with firm break here needed to ease downside pressure and open way for extension through […]
28/05/2024

Bitcoin Under Pressure But Beats Expectations

Market picture The crypto market capitalisation is down 0.8% in 24 hours to $2.55 trillion. Bitcoin is losing 0.7%, Ethereum is down 1.1%, and the top altcoins are changing between -0.9% (Toncoin) and +1.1% (Solana). Bitcoin’s hashrate updated a record after the fourth halving. The index reached 676 Eh/s now. The moving average of BTC […]