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Market picture The pressure on financial markets has spread to cryptocurrencies – the flip side of the long-desired easing of institutional access to the crypto market. The launch of the Ethereum ETF coincided with the most powerful drop in the Nasdaq index in months. The cryptocurrency market lost 3.5% in the last 24 hours, pulling […]

The post Stock Routs Undermine the Image of Ethereum ETF Launch appeared first on Action Forex.

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11/01/2024

Nikkei225 Needs a Breather But Hardly Done Ascending

Japan’s Nikkei225 index hit new highs since February 1990 on Thursday morning and climbed above 35000. The rise accelerated sharply this week after breaking above the 34000 level, which acted as resistance in the second half of 2023. The fundamental reason for buying was the dramatic drop in expectations that the Bank of Japan would […]
21/12/2023

NZDUSD Climbs to Fresh 5-month High, Eyes 0.6300 Level

NZDUSD headed for eighth straight day of gains Bullish momentum continues to strengthen But is it at risk of a negative correction? NZDUSD reached a fresh five-month high of 0.6293 on Wednesday, as its bullish streak shows no sign of easing. The momentum indicators are looking dangerously overbought but a reversal may not be imminent […]
06/12/2023

Germany 30 Technical: New Intraday Record High, Short-Term Bullish Trend Intact

Cleared above 16,300 major range resistance in place since November 2021. Watch the 16,440 key short-term support. The price actions of the Germany 30 Index (a proxy for the DAX futures) have continued to surge upward since our last analysis and cleared above the 16,200 short-term resistance as highlighted in our prior report. Yesterday, 5 […]