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Markets Gold grabbed most headlines today. The price of bullion spiked to an all-time high in illiquid Asian dealings of $2130/ounce. The spike didn’t last with gold prices falling back towards Friday’s closing levels near $2060/ounce. The move smells like an exhaustion move after the October/November core bond rally pushed gold prices up by around […]

The post Sunset Market Commentary appeared first on Action Forex.

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24/06/2024

Instrument of the Week (June 24—28): GBPAUD Outlook

The GBPAUD pair represents the exchange rate between the British Pound and the Australian Dollar, serving as a crucial metric of economic interaction between the United Kingdom and Australia. Monetary policy changes, economic reports, and political developments heavily influence the GBP. In particular, it’s sensitive to European changes, given the UK’s significant economic ties to […]
25/03/2024

Bitcoin Price Recovered over the Weekend, But Market Anxiety Remains

From the point of view of technical analysis of BTC/USD, on Friday evening the price of Bitcoin was near the lower boundary of the ascending channel (shown in blue). This was alarming as it indicated that the market action could result in a weekly bearish candle forming with the price of BTC down by around […]
29/04/2024

US 500 Cash Index in the Green Ahead of Fed

US 500 index is edging higher, a tad below the 50-day SMA Bulls are feeling more confident following strong tech earnings Momentum indicators are mixed at this stage The US 500 cash index is trying to record its third consecutive green candle today as the bulls are probably feeling relieved following the recent strong tech earnings […]