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In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of GBPJPY. In which, the rally from 13 December 2023 low unfolded as an impulse sequence and called for an extension higher to take place. Therefore, we knew that the structure in GBPJPY should remain supported & extend […]

The post GBPJPY Perfect Reaction Higher From Blue Box Area appeared first on Action Forex.

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31/05/2024

Bank of Canada Set to Make the First Interest Rate Cut Next Week

All ducks appear to be in a row for the Bank of Canada to kick-start the policy easing cycle and lower the overnight rate by 25 basis points to 4.75% on Wednesday. The move follows cuts from the Swiss National Bank and the Riksbank (central bank of Sweden) in recent weeks and comes after the […]
03/12/2023

Forex and Cryptocurrencies Forecast

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27/06/2024

BTCUSD Bounces Off 1-Month Low

BTCUSD drops to its lowest level since May 2 Despite initial rebound, price remains under selling pressure Momentum indicators hover near oversold territory BTCUSD (Bitcoin) has been experiencing a vast selloff since the beginning of June, temporarily breaking below the 60,000 psychological mark. Although the price managed to halt its retreat just shy of the 200-day simple […]