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Market picture Crypto market capitalisation is down 1% in 24 hours but has seen a cautious rise from a low of $2.43 trillion to $2.51 trillion since the start of the day on Wednesday. The Cryptocurrency Fear and Greed Index has rolled back to 71 (“Greed”) after over a month of “Extreme Greed”. Technically, this […]

The post Start of Correction, Or Support Already in Play? appeared first on Action Forex.

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22/03/2024

Cliff Notes: Four Sets of Circumstances, One Intent

Key insights from the week that was. In Australia, the RBA Board once again decided to leave the cash rate unchanged at 4.35% after reflecting on recent data. The new information included the Q4 National Accounts, which confirmed the economic slowdown broadened into year-end, and the Q4 Wage Price Index, which revealed an underlying slowdown […]
21/03/2024

Technical Outlook and Review

DXY: For DXY, in alignment with the overall bullish momentum of the chart, there’s a potential scenario indicating a bullish bounce off the pivot level, possibly leading towards the 1st resistance. The pivot at 103.04 serves as a significant pullback support, reinforced by the 61.80% Fibonacci Retracement, suggesting a level where buying interest may emerge, […]
17/05/2024

Euro Edges Lower Despite Positive Inflation Report

The euro has posted slight losses on Friday. EUR/USD is down 0.28%, trading at 1.0837 in the North American session at the time of writing. Eurozone CPI steady, core CPI falls The April inflation report showed that headline inflation remained steady at 2.4% y/y, holding at its lowest level in almost three years. Services inflation […]