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Market picture Crypto market capitalisation has been falling to $2.5 trillion following the rumbling fall of the US stock market. It is dipping below the peaks of early 2024 and late 2021. Previously, a similar decline would complete a corrective pullback, attracting buyers. However, the chances of such an outcome are now lower than in […]

The post Crypto Market Tumbles After Stocks appeared first on Action Forex.

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17/10/2024

Focus Turns to ECB

In focus today Focus today is on the ECB meeting, where we expect the ECB to deliver yet another rate cut of 25bp, bringing the deposit rate to 3.25%. Our expectations are supported by the recent weaker-than-anticipated growth indicators, as well as a decline in inflation. We expect that the ECB sticks to the ‘meeting-by-meeting’ […]
13/06/2024

Fantastic, Then

The Federal Reserve’s (Fed) dot plot plotted one rate cut for 2024, down from three in March and the Fed revised its inflation forecasts higher. But the Fed’s announcement didn’t get more hawkish than this because the distribution of the dots was much narrower than in March; 7 members plotted a one-cut preference while 8 […]
09/08/2024

EUR/GBP : 200DMA So Far Holds Pullback from New Multi-Week High

EURGBP dips further on Friday, extending pullback from new 3 ½ month high (0.8624) posted previous day. Fresh weakness cracked pivotal 200DMA (0.8555), with sustained break here to add to bearish signals, as reversal pattern is forming on daily chart. However, completion of pattern requires violation of pivotal Fibo support at 0.8532 (38.2% of 0.8362/0.8624) […]