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Markets President Trump seriously shook up a growth-focused market with some renewed tariffs threats. A nasty equity sell-off, compounded by tech heavyweight Nvidia, ended up in declines of almost 3% on Wall Street yesterday. It resulted in a break lower that worsened the technical picture. Sentiment deteriorated in European after-market hours, meaning stocks on the […]

The post Sunset Market Commentary appeared first on Action Forex.

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04/07/2024

Bitcoin Falls Below $60k to a Two-Month Low

Upon analysing the long-term BTC/USD chart on 16 May, we constructed a “roadmap” for Bitcoin’s price, which appeared as an expanding fan and consisted of a median with support levels below it and resistance levels above it. Analysing the BTC/USD chart last time on 28 June, we pointed out that: → the price broke down […]
23/04/2024

Focus on April PMIs Today

In focus today In the euro area, focus today will be on the euro area PMIs for April. The previous months’ PMIs have shown a return of the two-speed economy with the service sector in expansionary territory and manufacturing sector stuck in contraction. We expect that service PMIs will remain above 50 as rising real […]
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 […]