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In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the Gold. The rally from the 25 July 2024 low showed a higher high sequence & provided a short-term extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a […]

The post Gold Found Buyers Once Again At The Blue Box Area appeared first on Action Forex.

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06/08/2024

NZD/USD Sees Recovery After Hitting Nine-Month Low

The NZD/USD pair has shown signs of recovery, reaching 0.5941 after initially plunging to a nine-month low. This downturn was triggered by concerns over a potential US recession, driven by weak job sector data, which rattled global financial markets. As risk aversion spiked, the New Zealand dollar and other currencies declined steeply. This market turmoil […]
12/07/2024

Corporates Have Weighed in on Crypto Once Again

Market picture The crypto market capitalisation fell by 0.8% in 24 hours to $2.11 trillion. An attempt to strengthen the market’s offensive on news about inflation in the US attracted new sellers, which this time can easily be linked to the similar dynamics of the Nasdaq index, with which crypto has the closest correlation. At […]
18/10/2024

GBP/JPY Nearing Strong Resistance Zone

GBP/JPY has been in a strong bullish phase, but five-wave bullish cycle within wave (5) up from 2022 swing lows can be completed after recent strong reversal down back below channel support lines. In fact, drop from the high is impulsive on a smaller time frame, so it’s wave A that stabilized near 178 support […]