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The Euro is holding within a narrow range on Friday but keeps slight bullish bias on strong positive momentum and the pair being on track for the first bullish weekly close in five weeks. On the other hand, multiple failure to clear 200DMA barrier (1.0824) and Thursday’s strong upside rejection which left daily candle with […]

The post EUR/USD: Final Close Above 200DMA to Strengthen Near Term Structure appeared first on Action Forex.

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11/01/2024

EURJPY Wave Analysis

EURJPY broke key resistance level 158.40 Likely to rise to resistance level 160.95 EURJPY currency pair recently broke through the key resistance level 158.40 (which stopped the previous waves 1 and b, as can be seen below) intersecting with the 50% Fibonacci correction of the downward impulse from November. The breakout of the resistance level […]
07/03/2024

Bank of Canada Maintains Interest Rate, No New Guidance on Cuts

The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with Quantitative Tightening (QT). The Bank highlighted the slowing in economic momentum, stating that growth “remained weak and below potential”, while emphasizing that “final domestic demand contracted with a large decline in business investment”. It also stated that “employment […]
26/01/2024

Crypto Market Takes a Breath after the Storm

Market Picture The crypto market saw lower volatility in the last 24 hours, with capitalisation at $1.56 trillion and the price of Bitcoin hovering around $40K. Major altcoins have also avoided strong moves. The Fear and Greed Index is wandering around a neutral 50. A cautious uptrend can be discerned in Bitcoin since Tuesday, as […]