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After the strong risk rally triggered by Trump’s pause in reciprocal tariffs, most markets just went into consolidation awaiting new information. Bitcoin is one of those markets.

The focus switched towards trade negotiations and we are waiting for the first trade deals to start building expectations. We could just range until then.

There are some positive signs with China saying that they are open for talks but there’ve been also some disappointing news on the trade negotiations front as nothing has come out yet as it’s been all nice words but zero facts.

On the daily chart, we can see that bitcoin got stuck in a consolidation right at the key trendline. This is where we are having a battle between buyers and sellers. A strong rejection should open the door for a move back into the lows, while a successful breakout will likely take us to the 90,625 level quickly.

On the 1 hour chart, we can see more clearly the rangebound price action between the 83,000 support and the 86,125 resistance. The market participants will likely continue to play the range until we get a breakout on either side.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Function: Bullish Trend. Mode: Impulsive. Structure: Navy Blue Wave 1.

AUD/JPY recovers its recent losses registered in the previous session, trading near 90.70 during Thursday’s European session. The recovery is largely driven by weakness in the Japanese Yen (JPY), following disappointing export data from Japan for March.

The US Dollar (USD) had another bad day on Wednesday, suffering several losses – EUR/USD even briefly traded above 1.14. However, this was not really due to the data, which was mixed at best.

Gold price (XAU/USD) remains depressed below a fresh all-time peak touched earlier this Thursday and touches a daily low, around the $3,314 area during the first half of the European session. Hopes of US trade negotiations trigger a modest recovery in the global risk sentiment.

• Deeply concerned about US tariffs affecting Japan, world economy
• Impact could be felt via various routes such as trade and financial markets
• There’s a risk of exerting downwards pressure on Japan’s economy
• No comment on what will be discussed on FX at possible meeting with Bessent
• No change to Japan’s stance over recent FX market developments
• Actively exchanging views with the US on basic stance on FX
• Will closely communicate with the US on currency issues in light of market volatility

The remarks here came from an interview hours after the tariff talks began in Washington, so there were no probing questions on that. The big one mostly centered around FX, in asking Kato about market speculation that the US could ask Japan to join in on a coordinated effort to weaken the dollar. Of course, he brushed that aside as Japan will continue to want to avoid any topic on currency manipulation.

This article was written by Justin Low at www.forexlive.com.

Market Picture Over the past seven days, the cryptocurrency market went from falling to $2.5 trillion to rising to $2.71 trillion but later corrected to the $2.65 trillion area. The recovery momentum lost strength near the previous consolidation zone. The market has so far failed to overcome the descending resistance line formed from the peak […]

The post Crypto Market Rests After Recovery appeared first on Action Forex.

Asian stocks rose slightly on Thursday, and the dollar gained a bit as traders evaluated trade talks between the U.S. and Japan, while concerns over tariffs introduced by President Donald Trump kept the mood cautious. Markets were also digesting comments by Federal Reserve Chair Jerome Powell yesterday. Fed Chair Jerome Powell gave a firm hawkish […]

The post Europe’s Opening Bell: Stock Indices Rise on Positive US-Japan Talks, ECB Meeting Comes into Focus appeared first on Action Forex.