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After four consecutive weeks of decline, the dollar index started the new Monday by continuing its move into the territory of three-year lows. Once again, a worrying sign is that this dollar weakness is not translating into buying in stocks or bonds — their indices are also losing ground. From a technical standpoint, the dollar […]

The post Dollar Repeats Bearish Pattern of the 1980s and 2000s appeared first on Action Forex.

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17/09/2024

News of the Week (September 16— September 20): GBPUSD in Focus

GBPUSD poised for a breakout—traders should stay alert! The GBPUSD pair, commonly known as “cable” among traders, reflects the exchange rate between the British pound and the US dollar. Economic conditions heavily influence the pair in both the UK and the US. The Pound usually depends on UK interest rate decisions, inflation data, and overall […]
05/09/2024

Bitcoin Continues Downtrend

Market Picture The Asian session continues to be tough for cryptocurrencies. The total market capitalisation had risen to $2.05 trillion the previous evening, recovering from a drop earlier in the day. Still, selling prevailed again at the start of the new day on Thursday, bringing the capitalisation back to $2.0 trillion (+0.8% in 24 hours). […]
08/01/2024

EUR/USD Holds Support But Can It Recover?

Key Highlights EUR/USD declined and retested the 1.0880 support zone. It traded below a key bullish trend line at 1.0900 on the 4-hour chart. GBP/USD is attempting a fresh increase above the 1.2650 resistance. USD/JPY climbed higher above the 143.20 resistance zone. EUR/USD Technical Analysis The Euro started a fresh decline from the 1.1140 zone […]