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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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19/07/2024

GBP/USD: Cable Dips Further After Downbeat UK Retail Sales

Cable remains in red for the second consecutive day and extends pullback from new one-year high (1.3044). Weaker than expected UK retail sales increase pressure on sterling and add to bets for BoE rate cut in August (currently at 44%). Fresh bears broke below the floor of recent consolidation (around Fibo 23.6% of 1.2615/1.3044 upleg), […]
25/05/2024

Could Developments in Iran and Saudi Arabia Turn the Tide for Oil?

Iran is still quiet about reasons behind the helicopter accident Saudi Arabia’s King health scare turns focus on Crown Prince Oil still under pressure; a new catalyst could reverse the recent trend Iranian Presidential elections to be held on June 28 News of the helicopter accident, which resulted in the loss of several senior Iranian […]
17/06/2024

Gold Attempts to Erase Latest Slump

Gold falls to its lowest level in a month But recovers some ground, eyeing 50-day SMA Oscillators improve but remain negatively tilted Gold has been experiencing a pullback from its all-time high of 2,450, breaking below the 50-day simple moving average (SMA). Although the price posted a fresh one-month low on June 7, it has been in […]