News

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.

The GBP/USD pair climbed for seven consecutive days, reaching 1.3210, before experiencing a slight dip on Thursday. This marks the longest sustained rise for the currency pair since July last year, with the pound’s strength primarily driven by a weakening US dollar. Key factors influencing GBP/USD movements Fundamentally, the outlook remains mixed. The UK’s Consumer Price Index (CPI) fell more […]

The post Pound Among the Winners Boosted by US Dollar Weakness and Rate Cut Prospects appeared first on Action Forex.

It’s been a good day for crude oil yesterday as the market benefited from a couple of positive headlines. The first one came in the European session when we got the Bloomberg report saying that China was open for talks with US. That triggered a quick rally as markets look forward to de-escalation on trade front to price out growth fears.

Then we got fresh US sanctions targeting Iran oil tankers in the American session, which provided further support to prices although the bulk of the move was caused by the Chinese headline in the morning. This just shows how laser focused the market is on anything regarding trade negotiations.

On the 1 hour chart, we can see that the price is now back at testing the key resistance zone around the 62.00-64.00 area. The sellers will likely continue to step in here with a defined risk above the resistance to keep targeting new lows, while the buyers will look for a break higher to invalidate the bearish setup and position for a rally into the 72.00 level next.

For now, we are just ranging between the 59.00 support and the 63.00 resistance. A breakout on either side should see the momentum increasing.

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

Key insights from the week that was. In Australia, the RBA Minutes from the April meeting provided some extra colour around the Policy Board’s deliberations. Despite pre-dating President Trump’s ‘Liberation Day’ tariff announcements and the subsequent volatility in markets, many of the statements around the potential impact on Australia remain relevant, especially that “the effects […]

The post Cliff Notes: Patient Posture appeared first on Action Forex.

While on a client trip through Europe and North America, I have seen investors go through all five stages of financial market grief about the US: confusion, fatalism, denial, revulsion – and reallocation What a time to be on a client trip through Europe and North America. The ‘US exceptionalism’ narrative that prevailed between the […]

The post TINA McRAE Says ‘Watch Out Ahead!’ appeared first on Action Forex.