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On a higher degree time frame, we see gold coming higher into a fifth wave, but it may take some time before it finds the top, as we see an unfinished lower degree impulse. Gold remains in strong and impulsive five-wave bullish cycle on a daily chart and there’s space for more upside, we will […]

The post Gold Coming Out of Elliott Wave Triangle appeared first on Action Forex.

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06/03/2024

XAU/USD: Gold Retests Record High, Bulls Likely to Take a Breather Before Resuming

Steep rally extends into the fifth straight day on Tuesday, after the metal closed above $2100 level for the first time in history on Monday. Strong demand for safe haven bullion was sparked by further drop in the activity in US manufacturing sector and persistently weak consumer sentiment. Bulls retested key barrier at $2141 (gold’s […]
05/03/2024

EURJPY Recovers from Mild Pullback

EURJPY storms back higher towards 2024 peaks Momentum indicators weaken but remain positive EURJPY has been in a steady advance since December 2023, peaking at the 2024 high of 163.70 on February 27. Despite experiencing a pullback in the past week, the pair found its feet and rotated back higher towards its recently registered three-month peak. Given […]
24/01/2024

Crypto’s Decline Looks More Like a Sell-off than a Correction

Market picture The crypto market lost over 5% in 24 hours, to $1.52 trillion. Bitcoin has remained under pressure since the start of the week after pausing in the sell-off on Saturday and Sunday. The persistence of the sell-off has triggered a sell-off in many altcoins, losing with greater amplitude than BTC. The very nature […]