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Gold has returned to growth. On Friday, a troy ounce of the precious metal was priced at 2517 USD. The price has stabilised as the market awaits the release of August’s crucial US employment report. The data could prompt a revision of the Federal Reserve’s interest rate outlook, which is particularly important given the short […]

The post Gold Rallies as Market Bets on Rapid Fed Monetary Easing appeared first on Action Forex.

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05/09/2024

GBPJPY Wave Analysis

GBPJPY reversed from resistance level 192.40 Likely to fall to support level 188.00 GBPJPY currency pair recently reversed down from the key resistance level 192.40 (which has been reversing the price from the middle of April) standing near the upper daily Bollinger Band. The resistance level 192.40 was further strengthened by the 50% Fibonacci correction […]
14/06/2024

XTIUSD: Bearish and Bullish Scenarios, Key Levels, and Market Insights

Bearish Scenario: Sell below 77.50/77.81 with TP1: 77.36, TP2: 76.91, TP3: 76.26, and TP4: 76.00, with S.L. above 78.53 or at least 1% of account capital. Bullish Scenario: Buy above 78.70 with TP1: 79.00 and TP2: 79.90, with S.L. below 78.00 or at least 1% of account capital. Apply trailing stop. Fundamental Analysis: The price […]
01/04/2024

Bitcoin Remains Within Extended Range

Bitcoin edged lower on Monday but remains within the longer range which extends into seventh consecutive day. Near-term action remains sideways and looking for stronger direction signals, as daily studies are mixed (fading positive momentum / MA’s in bullish setup), with bullish but overbought weekly studies, adding to unclear near-term picture. Last week’s monthly close […]