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Gold looks for a bullish breakout above rectangle Bullish sentiment dominates; stability cannot be ruled out US CPI inflation figures due for release at 12:30 GMT Gold rapidly approached the upper band of its three-week-old tight range at 2,530, increasing the possibility of entering unexplored territory. The ball is still on the bulls’ court according to […]

The post Gold Shifts Attention to Uncharted Territory appeared first on Action Forex.

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EUR/USD Halted Its Decline: The Market Awaits US Inflation Data

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02/08/2024

USD/CHF Falls to Lowest Level in Nearly Six Months

As today’s USD/CHF chart shows, the exchange rate has fallen below 0.872 – the Swiss franc hasn’t been this strong against the US dollar since early February this year. Bearish sentiment is driven by: → Expectations of a Fed rate cut, weakening the US dollar; → Low inflation in Switzerland – today’s CPI data shows […]
31/07/2024

Market Analysis: AUD/USD Remains At Risk While NZD/USD Attempts Recovery

AUD/USD declined heavily from well above 0.6650. NZD/USD also tumbled and is now attempting a recovery from 0.5850. Important Takeaways for AUD USD and NZD USD Analysis Today The Aussie Dollar started a major decline below the 0.6610 level against the US Dollar. There is a connecting bearish trend line forming with resistance near 0.6530 […]
16/03/2024

Fed to Keep Rates Unchanged for a Fifth Meeting Even as Inflation Risks Lurk

The U.S. Federal Reserve is widely expected to stand pat on the fed funds range for a fifth consecutive meeting on Wednesday. But any shift in the monetary policy statement language will be closely watched after two straight months of upside surprises on inflation. Markets continue to expect the first interest rate cut in June […]