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Market Picture The cryptocurrency market is down 0.5% in 24 hours to $3.08 trillion. The market has paused after rallying since the end of last week. Ethereum and Litecoin have pulled back from recent highs, while XRP is stabilising. Bitcoin and Solana are hovering near recent highs and are getting ready to update them. As […]

The post Bitcoin Aiming for $110K appeared first on Action Forex.

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25/10/2024

Canadian Dollar Eyes Retail Sales

The Canadian dollar is showing little movement on Friday. In the European session, USD/CAD is trading at 1.3845 at the time of writing, down 0.07%. It has been a relatively quiet week for the Canadian dollar, and even an oversized 50-basis point rate cut from the Bank of Canada failed to shake up the Canadian […]
04/06/2024

Bearish Elliott Wave Sequence in Dollar Index (DXY) Favors Downside

Short Term Elliott Wave in Dollar Index (DXY) shows incomplete bearish sequence from 4.17.2024 high. Down from there, wave 1 ended at 104.08 like the 1 hour chart below shows. Rally in wave 2 unfolded in a double three Elliott Wave structure. Up from wave 1, wave (w) ended at 104.79 and dips in wave […]
05/08/2024

Could Data Open the Door to RBNZ Cut Next Week?

Market in crisis mode after Friday’s US labour report An RNBZ rate cut could be on the cards if data weakens China’s problems hamper progress in the region Kiwi in desperate need of good data prints Markets in disarray With the market digesting last week’s events, especially Friday’s US labour market report that triggered discussions […]