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Federal Reserve’s (Fed) Jerome Powell, who leads a team that started cutting the interest rates with a 50bp point in September by fear that the US jobs market would deteriorate quickly and added another layer of 25bp cut last week, said that ‘the economy is not sending any signals that [they] need to be in […]

The post And Suddenly, Fed’s Urge to Cut Rates Evaporates appeared first on Action Forex.

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28/10/2024

Crypto Overcomes Last Week’s Corrective Sentiment

Market Picture Last week, the cryptocurrency market was dominated by a risk-off sentiment that saw the total crypto market capitalisation fall from $2.4 trillion to $2.2 trillion. However, on Saturday, higher volumes led to a price recovery, bringing the market back to the $2.3 trillion valuation it started the week with. The sentiment index is […]
09/05/2024

WTI Crude Oil Wave Analysis

WTI crude oil reversed from support area Likely to rise to resistance level 80.00 WTI crude oil recently reversed up with the daily Hammer from the support area lying between the pivotal support level 77.00 (which has been reversing the price from February), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward […]
19/12/2023

EURJPY Retraces Higher as 200-day Holds Ground

EURJPY falls sharply but the 200-day SMA acts as a strong floor Repeated failure to violate the latter triggers an upward spike Momentum indicators improve, but remain in negative zones EURJPY had been experiencing a steep pullback from its recent 15-year peak of 164.28, which ceased at the crucial 200-day simple moving average (SMA). In today’s session, […]