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The Dollar Index is giving up positions painfully slowly. It is under pressure for the ninth session in a row, but at the same time, the market is unable to accelerate or break this downtrend. Individual currency pairs are now testing critical local levels. The ability to finally break through them could set the trend […]

The post Time for the Dollar to Choose a Trend appeared first on Action Forex.

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20/08/2024

Bitcoin Price Breakout: Could It Lead To Bigger Gains?

Key Highlights Bitcoin price is aiming for a decent increase above the $60,000 resistance. BTC cleared a key contracting triangle with resistance at $60,800 on the 4-hour chart. Gold bulls pushed the price above the $2,500 resistance zone. GBP/USD is showing positive signs and aiming for a move above 1.3000. Bitcoin Price Technical Analysis Bitcoin […]
09/07/2024

EURJPY Moves Beneath Its Lifetime High of 174.60

EURJPY struggles to jump above its recent high Momentum oscillators look overstretched EURJPY skyrocketed to a fresh multi-year high of 174.60 in the previous week but is currently hovering slightly below this level, with the technical oscillators suggesting an overstretched market. The RSI is trying to cross the 70 level to the downside, while the MACD […]
04/11/2024

Gold in Anticipation Mode

Gold is trading sideways, well below its recent high Volatility remains elevated ahead of the US election Momentum indicators remain mostly bullish Gold is trading sideways today and thus failing to forcefully react to the two negative sessions that pushed it well below its all-time high of 2,790. Month-end portfolio reallocations and profit taking could […]