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Gold has been under moderate pressure since last Friday, when the price reversed sharply from above $2360. This is an important signal from the bears that they retain control of the market, forming a trend of lower local highs. On Wednesday morning, the price temporarily dipped below $2310, returning to the support area of the […]

The post Gold: Third Time Lucky for the Bears? appeared first on Action Forex.

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22/05/2024

Gold Price Primed To Extend Gains – Here’s Why

Key Highlights Gold started a fresh increase above the $2,420 resistance. A connecting bullish trend line is forming with support at $2,410 on the 4-hour chart. Oil prices are consolidating losses below $80.00. EUR/USD could aim for a steady increase above the 1.0885 resistance. Gold Price Technical Analysis Gold prices started a fresh increase above […]
17/04/2024

USDJPY Wave Analysis

USDJPY under the bullish pressure Likely to rise to resistance level 156.35 USDJPY currency pair under the bullish pressure after the earlier breakout of the major resistance level 151.80, former yearly high from 2022 and 2023. The breakout of the resistance level 151.80 accelerated the C-wave of the active ABC correction (B) from the start […]
07/05/2024

EURUSD Returns Within a Sideways Range

EURUSD returns within range between 1.0725 and 1.0930 MACD and RSI detect a lack of directional momentum For the bears to recharge, a break below 1.0725 may be needed The outlook may turn bullish if the price breaks above 1.0930 EURUSD has been in a recovery mode since April 16 when it hit support near […]