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The week started on a quiet note in the US and with some weakness in Europe, where many were off due to a religious holiday. But futures are in positive territory this morning as traders return to their desks. One of the main drivers of optimism is the renewed momentum in US/China trade talks. The […]

The post Trade Optimism Reins appeared first on Action Forex.

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18/12/2023

Crude: Temporary Recovery Has Room for $75

Crude spiked lower on Friday, but then stabilized on volume late in US session when price moved slightly higher. Energy also stays up after the news that N.Korea fired an unspecified ballistic missile toward East Sea. From an Elliott wave perspective, price is also eyeing higher, we are seeing room for wave C/3 to around […]
04/04/2024

Bitcoin Price At Risk of More Downsides Below $65K

Key Highlights Bitcoin price started a fresh decline below $69,000 and $68,000. BTC traded below a key bullish trend line with support at $68,350 on the 4-hour chart. Crude oil price rallied further above $85.00. Gold price also climbed higher toward the $2,300 level. Bitcoin Price Technical Analysis Bitcoin price failed to stay above $70,000 […]
14/12/2023

Bank of England Hawks Extend the Pound’s Rally

The Fed’s dovish attitude, for now, hasn’t extended too far into Europe. The Bank of England kept its key rate unchanged at 5.25%, with three of the nine members voting in favour of a quarter-point hike. In a commentary on the decision, the Bank of England emphasised that it is not yet certain that inflation […]