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Hello fellow traders! In this technical article, we’ll be discussing GOLD (XAUUSD) and sharing some charts that we’ve presented to the members of ElliottWave-Forecast. As our members know, GOLD is showing higher high sequences in the cycle from the December 18th low, which suggests a further rally in the commodity. Recently, GOLD completed a 3-wave […]

The post Elliott Wave Forecast: GOLD (XAUUSD) Forming 5 Waves from the 2656.3 Low appeared first on Action Forex.

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11/12/2023

Gold Technical: Extension of Corrective Decline Ahead of FOMC

Lofty dovish expectations of 4 Fed funds rate cut in 2024 are at risk of being dialed back. Short-term bullish momentum has resurfaced in the US 10-year Treasury real yield. Spot Gold (XAU/USD) may continue its short-term corrective decline sequence. Watch the key short-term resistance at US$2,040 on Spot Gold (XAU/USD). Spot Gold (XAU/USD) has […]
21/11/2024

Sunset Market Commentary

Markets With few data in Europe or the US, markets continued to be haunted by headlines on the war in Ukraine, even as the impact wasn’t unequivocal across markets. Ukraine reporting that Russia used an Intercontinental Ballistic missile for the first time only added to fears on a further escalation. European equites and yields nosedived. […]
02/07/2024

USD/JPY Outlook: Hits New Multi-Decade High Despite Persisting Intervention Threats

USDJPY rose further on Monday, signaling continuation after bulls paused for consolidation on Thu/Fri. Although traders remain cautious over looming intervention, after Japanese authorities reiterated their stance of intervening again to support weakening yen, bulls hold grip for now. Fresh strength hit new highest level since Oct 1986 and on track for daily close above […]