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Key Highlights Bitcoin price declined heavily and even traded below the $80,000 support. BTC is now well below a key bearish trend line with resistance at $86,650 on the 4-hour chart. Ethereum price also declined and traded below the $2,000 support. The US CPI could rise 2.9% in Feb 2025 (YoY). Bitcoin Price Technical Analysis […]

The post Crypto Struggles: Bitcoin Dips Further, Recovery Faces Major Hurdles appeared first on Action Forex.

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28/08/2024

NZDUSD Still Bullish But Rally Looks Overstretched

NZDUSD is up almost 5% so far in August Further gains are likely, but risk of near-term correction is high NZDUSD is trading near seven-month highs on Wednesday, as the pair continues its August bull charge. However, there appears to be some resistance in the 0.6250 area where the intersecting long-term descending trendline is providing […]
10/09/2024

GBP/USD Steady as UK Wage Growth Eases GDP Next

The British pound has edged lower on Tuesday. In the North American session, GBP/USD is trading at 1.3055, down 0.14% on the day. UK wage growth drops to 2-year low UK wage growth eased in the three months to July, an encouraging sign for the Bank of England as it looks to continue lowering rates. […]
07/10/2024

EURUSD Pauses Southward Run Near 1.0950

EURUSD posts 6 red sessions Price plunges below 1.1000 Stochastics indicates upside recovery But RSI keeps falling EURUSD plummeted more than 2% after the pullback from the double top around 1.1200, recording six straight red days. The price also tumbled beneath the short-term uptrend line and the 1.1000 round number, confirming the bearish correction in […]