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The recent weakness seen in Gold (XAU/USD) is likely to be driven by US politics as the “Gold premium” has moved in synch with the betting odds of Republican nominee Trump winning the US Presidential Election. The US Treasury market is likely to take a driver’s seat now as the focus returns to the monetary […]

The post Gold Technical: Recent Sell-off May Have Reached a Potential Bullish Reversal Level at US$2,353 appeared first on Action Forex.

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26/03/2024

Trade of The Week: AUDNZD Trade Breakdown

The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining […]
22/07/2024

EURCHF Hovers Around 38.2% Fibo

EURCHF spikes lower following rejection at 23.6% Fibo Price trades sideways after break below 50-day SMA Momentum indicators are neutral-to-negative EURCHF has been staging a solid recovery since mid-June, advancing to its highest level in more than a month last Monday. However, the pair experienced a strong pullback following its rejection around 0.9796, which is the 23.6% Fibonacci […]
13/09/2024

Fed Preview: Dovish 25bp

We expect the Federal Reserve to cut rates by 25bp in the next week’s meeting. Markets price in around 40% probability of a larger 50bp move. We do not expect changes to the pace of QT despite the Fed now initiating rate cuts. We expect the updated dots to signal a total of 3x25bp cuts […]