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Gold tries to enter Ichimoku cloud Prices stand in short-term sideways move Momentum oscillators lose steam Gold prices are currently capped by the 20- and the 50-day simple moving averages (SMAs), remaining within the short-term consolidation area of 2,277 and 2,431. In the near-term, the market could maintain a sideways move if the RSI keeps […]

The post Gold on a Slippery Slope appeared first on Action Forex.

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Instrument of the Week (June 3—7): EURCAD Outlook

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04/04/2024

Sunset Market Commentary

Markets What a difference a revision makes… So often overlooked final figures of monthly (EMU) PMI broke headlines today. The euro area economy returned to growth for the first time since May 2023 after an upwardly adjusted composite PMI (50.3 from 49.9). Further growth expectations are the most optimistic since the start of the Russian […]
12/09/2024

USDJPY Wave Analysis

USDJPY reversed from the support zone Likely to rise to the resistance level 144.00 USDJPY currency pair recently reversed up from the support zone set between the pivotal support level 140.75 (which has been reversing the price from December) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily […]
18/09/2024

Sunset Market Commentary

Markets Focus this morning briefly turned from this evening’s Fed meeting to tomorrow’s BoE policy decision following August UK CPI data. The report was almost exactly in line with expectations. Headline inflation rose 0.3% M/M and 2.2% (from -0.2% M/M and 2.2% in July). Core inflation reaccelerated to 0.5% M/M and 3.6% Y/Y (from 0.1% […]