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Market picture The crypto market continues to bump along, pulling back 2.7% to $3.15 trillion after flirting with the $3.3 mark the day before. This week, the market is hovering near the lower boundary of the descending corridor. Technically, a rebound from these levels is more likely. However, the wiser approach is to wait, as […]

The post Crypto: No Growth Without Fear appeared first on Action Forex.

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04/07/2024

Bitcoin More Likely to Fall to $51.5K Than Rise to $65.8K

Market picture The crypto market plunged 3.6% in 24 hours to $2.17 trillion, its lowest level since late February. Triggered stop orders in this morning’s thinly liquid market added to the magnitude of the decline, sending Bitcoin briefly below $57.7K and Ethereum to $3150. Top altcoins are losing in a range from -0.7% (Tron) to […]
22/11/2024

Elliott Wave View: GBPUSD is Approaching Support Zone

Short Term Elliott Wave View in GBPUSD suggests decline from 9.26.2024 high is in progress as a zigzag structure. Down from 9.26.2024 high, wave A ended at 1.284. Wave B bounce ended at 1.3047 as the 1 hour chart below shows. Wave C lower is now in progress with internal subdivision as a 5 waves […]
15/04/2024

EUR/USD Takes Hit As Israel-Iran Tension Escalates

Key Highlights EUR/USD started a major decline below the 1.0780 support. It traded below a key bullish trend line with support at 1.0850 on the 4-hour chart. Iran launched more than 300 drones and missiles at Israel in an unprecedented attack late Saturday. Gold prices rallied above $2,400 before there was a sharp downside correction. […]