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Key Highlights Gold is attempting a fresh increase from the $2,350 support zone. It cleared a connecting bearish trend line with resistance at $2,388 on the 4-hour chart. Oil prices extended losses and traded below $75.50. The US ADP employment could change by 150K in July 2024. Gold Price Technical Analysis Gold prices found support […]

The post Gold Eyes New Gains: Will It Sparkle Again? appeared first on Action Forex.

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27/06/2024

JP 225 Extends Rally to 2-Month High

JP 225 index has been steadily advancing in the short term On Wednesday, price jumped to its highest since April 12 Momentum indicators are heavily skewed to the upside The JP 225 index (cash) had been trading without clear direction since early May, fluctuating around its 50-day simple moving average (SMA). In the near term, the price broke above that crucial […]
10/09/2024

GBP/USD Steady as UK Wage Growth Eases GDP Next

The British pound has edged lower on Tuesday. In the North American session, GBP/USD is trading at 1.3055, down 0.14% on the day. UK wage growth drops to 2-year low UK wage growth eased in the three months to July, an encouraging sign for the Bank of England as it looks to continue lowering rates. […]
31/01/2024

Risk is Fed Powell Doesn’t Want to Sound Too Hawkish

Markets The EU economy avoided a recession in 2023H2 (0.0% q/q growth in Q4) thanks to southern Europe while inflation readings from Spain (and Belgium) showed price pressures reaccelerating. The latter pushed euro area yields higher, with changes in Germany amounting to 2.6-3.8 bps across the curve. Consumer confidence in the US (Conference Board), meanwhile, […]