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Key Highlights Gold prices rallied over the $2,000 and $2,020 resistance levels. A key bullish trend line is forming with support near $2,025 on the 4-hour chart. Crude oil prices are attempting a recovery wave from the $72.00 zone. EUR/USD climbed above the 1.1000 level before the bears appeared. Gold Price Technical Analysis Gold remained […]

The post Gold Price Rally Pauses But Not Likely Over appeared first on Action Forex.

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02/02/2024

DAX Near Term Support Area

Short Term Elliott Wave view in DAX suggests the rally from 10.23.2023 low is unfolding as a 5 waves impulse. Up from 10.23.2023 low, wave 1 ended at 17003.28. Wave 2 pullback subdivided into a double three Elliott Wave structure. Down from wave 1, wave ((w)) ended at 16448.71 and wave ((x)) rally ended at […]
15/05/2024

Morning Report

Key themes: Jerome Powell shared the limelight with the US producer price inflation report overnight. An upside headline surprise in producer price inflation was tempered by a sizeable downside revision to the previous month and more constructive underlying detail. Overall the data was supportive of further disinflation and did little to move the dial on expectations […]
08/05/2024

USD Extends Gains as Investors Shrug Off Fed Optimism

Yesterday was one of those days where we needed to fit a narrative to the market moves as the moves weren’t triggered by meaningful data or comments. The US 2-year yield was steady near the 4.80% level, the stocks were slow to move, the S&P500 traded slightly up, Nasdaq 100 came slightly down. Federal Reserve’s […]