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Key Highlights USD/JPY started a downside correction from the 153.85 zone. A connecting bullish trend line is forming with support at 151.45 on the 4-hour chart. Bitcoin trimmed gains and traded below the $70,000 level. Gold corrected gains sharply and traded below $2,780. USD/JPY Technical Analysis The US Dollar remained stable and extended gains above […]

The post USD/JPY Tests Key Support: Will It Bounce Back? appeared first on Action Forex.

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15/01/2024

Bitcoin Tests the Strength of an Uptrend

Market picture Last week saw the launch of 11 spot bitcoin ETFs in the US. On Thursday, the first day of trading, the total volume traded in these ETFs was $4.6 billion, and the price of bitcoin reached a multi-month high near $49000. The “sell the facts” pattern was already evident on Friday and continued […]
27/01/2024

Sunset Market Commentary

Markets European bond markets still opened stronger in the wake of yesterday’s unconvincing press conference by ECB President Lagarde. The move lacked momentum though with first individual ECB members sounding more hawkish than Lagarde did. We must admit that it weren’t the most high-profile representatives though. Latvian ECB Kazaks admits that rates should start to […]
08/05/2024

Riksbank Rate Decision Today a Close Call, We Expect Hold

In focus for the rest of the week Today, the main event in the Nordics is the Riksbank monetary policy decision, due at 09.30 CET. Money market pricing implies c. 80% probability of a cut but we think it is more or less a 50/50 call, and we expect the Riksbank to leave rates unchanged […]