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Market picture The crypto market capitalisation has hit new highs since 12th January, passing the $1.75 trillion mark. The market has confidently moved into a state of greed, which we also last saw a month ago. Last month’s corrective pullback and early February’s consolidation have helped gather strength for a real breakout. Bitcoin has gained […]

The post Bitcoin Rises Ahead of Schedule appeared first on Action Forex.

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17/01/2024

EURUSD Short Term Looking for Further Downside

Short term Elliott Wave View suggests $EURUSD ended wave 1 rally at 1.11395. Pair is now doing wave 2 pullback to correct cycle from 10.03.2023 low. Wave 2 subdivides into a zigzag Elliott Wave structure. Zigzag is a 5-3-5 structure with ABC as the label. Wave A and C in zigzag subdivide into 5 waves […]
16/05/2024

JPY Has Sharply Strengthened

The yen’s exchange rate rose to the US dollar on Thursday in response to improving prospects for the Federal Reserve interest rate. The USDJPY pair has declined to 153.88. After the US released up-to-date data on April inflation, the likelihood of a reduction in the cost of borrowing in the country increased markedly. Both the […]
27/06/2024

WTI Crude Oil Moves Sideways in Near Term

WTI crude oil fails to rally above 81.90 RSI and MACD remain above mid-levels WTI crude oil has been on the sidelines for the most part of the week as the 81.90 level seems to be a real struggle for the bulls. Technically, the price could gain some ground in the short-term as the RSI is changing […]