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Key Highlights Bitcoin price extended its rally above $53,200 and $55,000. BTC cleared a major declining channel with resistance at $51,850 on the 4-hour chart. Ethereum also rallied above the $3,150 and $3,200 resistance levels. The US GDP could grow 3.3% in Q4 2023 (Preliminary). Bitcoin Price Technical Analysis Bitcoin price formed a support base […]

The post Bitcoin Price Surges Toward $60K, US GDP Report Next appeared first on Action Forex.

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27/01/2024

Canada’s November GDP to Edge Higher for First Time Since May But Economy Still Looks Weak

The November Canadian gross domestic product (GDP) estimate released on Wednesday will probably tick higher for the first time in six months, but the economic backdrop to end 2023 still looks soft. We expect a 0.1% increase in GDP from October, which would be in line with Statistics Canada’s early estimate a month ago. These […]
12/04/2024

EURUSD Plummets After US CPI and ECB Decision

As US CPI comes hotter than expected EURUSD tumbles After ECB interest rate decision EURUSD continues the fall Where is the next stop for the pair? How did EURUSD reacted after the US CPI release on Wednesday and the ECB interest rate decision on Thursday? EURUSD fell more than 100 pips after the US CPI […]
02/09/2024

Sunset Market Commentary

Markets Trading slowed down to a trickle today in absence of US investors (Labour Day holiday) and amid an empty EMU eco calendar. A lot of ink has been spilled about this week’s key US eco data and their impact on markets and Fed policy. It allows us to have a look at this week’s […]