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Three major US banks; JPMorgan Chase, Citigroup, and Wells Fargo will report their Q1 2024 earnings results today. JPMorgan Chase is ranked 13th in terms of component weightage in the DJIA. Analysts’ Q1 earnings estimates for these three US banks have been lowered which increases the possibility of positive earnings surprises. Technical analysis suggests a […]

The post US DJIA Technical: Major US Banks’ Q1 Earnings in Focus Over Adverse Macro Factors appeared first on Action Forex.

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10/04/2024

GBP/USD Recovers While EUR/GBP Dips to Support

GBP/USD is gaining pace above the 1.2660 resistance. EUR/GBP declined steadily below the 0.8572 and 0.8566 support levels. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is attempting a fresh increase above 1.2660.  There is a key bullish trend line forming with support near 1.2670 on the hourly chart of GBP/USD at […]
12/04/2024

Cryptocurrencies Look Stronger Than Stocks

Market picture The crypto market continues to avoid gaining momentum on the upside but remains within an uptrend: the bulls fail to accelerate price gains, but the overall upward trend remains. ‘Extreme Greed’ persists in the markets, with the corresponding index at 79. In contrast, the sentiment in the stock markets is almost ‘Neutral’. Bitcoin […]
11/06/2024

Crypto Nosedive

Market Picture The cryptocurrency market spent Monday in a very narrow range but started Tuesday with a violent sell-off, losing over 2.8% in 24 hours to $2.47 trillion. Bitcoin is retreating at the same pace as the market as a whole, while Ethereum is down 3.5%. Top altcoins are losing between 2% (Cardano) and 6.6% […]