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Gold jumped to new highs last week Overall trend remains positive But RSI and stochastic suggest bearish correction Gold prices climbed to a high of 2,144.60 last week before falling. The price has been clearly on an uptrend since October 2022, and the long-term structure of rising highs and rising lows is still in place. […]

The post Gold Eases from Record Highs in 2023 appeared first on Action Forex.

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25/06/2024

GBP: A Correction May Be Imminent

During Monday’s session, the GBPJPY pair continued its uptrend, reaching a high of around 202.50, its highest level since 2007. Despite earlier attempts by sellers to push the pair down to 106.14, buyers regained control and drove the pair to new cycle highs. The Daily Relative Strength Index (RSI) at 68 suggests ongoing bullish momentum, […]
10/04/2024

Crypto Market Looking for Triggers

Market picture The cryptocurrency market did not find the strength to accelerate and rolled back almost 2.3% on the day to $2.6 trillion, but that is still a gain of 3.5% in seven days. In other words, the market is holding on to its uptrend but needs drivers for further movement. The US CPI report, […]
14/12/2023

Dollar Index: Hits Four-Month Low, Deflated by Dovish Fed

The dollar index remains firmly in red and holding near fresh four-month low in early trading on Thursday, following post-Fed 1.2% fall on Wednesday (the biggest daily drop since Nov 14). The greenback was deflated by signals that the Fed’s historic policy tightening cycle is likely over, and projections show that borrowing cost would fall […]