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In focus today Today’s main event will be the FOMC meeting, where we and the markets expect no changes to the Fed’s policy rate. With no new economic projections, focus will be on Powell’s verbal guidance as well as on any hints on the Fed’s plans to taper the pace of QT. Read more in […]

The post Focus Turns to Fed appeared first on Action Forex.

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30/08/2024

Crypto Fails to Bounce Off the Bottom

Market Picture The cryptocurrency market failed to move significantly from the previous day’s levels, losing 0.5% to $2.07 trillion. Crypto followed the stock market but was noticeably weaker. Smooth growth during the day was wiped out by a late sell-off, taking capitalisation back to the local lows of recent days. Sentiment in the crypto market […]
31/05/2024

AUDUSD Bullish Tendency in Doubt

AUDUSD in the green again today, above a key trendline AUD has managed to withstand the recent USD strength Momentum indicators mixed; stochastics could send a bearish signal AUDUSD is recording another green candle today as the market continues to react positively to the recent data releases from Australia and, in particular, the hotter April inflation […]
21/08/2024

GBPCAD Reacted Higher After Ending Double Correction Lower

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of GBPCAD. In which, the rally from 28 September 2023 low is unfolding as a leading diagonal sequence and called for an extension higher to take place. Therefore, we knew that the structure in GBPCAD should remain supported […]