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Key Highlights Gold prices dropped toward the $1,970 support before the bulls appeared. A key bearish trend line is forming with resistance near $2,036 on the 4-hour chart. Crude oil prices started a recovery wave above the $71.20 resistance. AUD/USD rallied and cleared the 0.6700 resistance zone. Gold Price Technical Analysis Gold failed to continue […]

The post Gold Price Could Struggle To Gain Traction – Here’s Why appeared first on Action Forex.

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29/11/2023

Sunset Market Commentary

Markets With few important data on the agenda, trading on US and EMU (bond) markets was mainly order driven and technical in nature. At the start of the session, Bunds tried to extend their recent rally, but the move soon stalled. ECB’s Nagel airing that its too early to speculate about rate cuts hardly can […]
03/09/2024

GBPUSD & EURUSD Outlook

The forex market was relatively quiet during the Asian trading session, with only minor changes seen across currencies. There was a slight dip in commodity currencies due to weaker-than-expected manufacturing data from China, though this was somewhat balanced by better results from the Caixin PMI report. This week will be crucial as traders look for […]
19/03/2024

Bank of Japan Ends the Era of Negative Interest Rates

The Bank of Japan has not raised interest rates for 17 years. For 8 years, it was in the negative zone. But today there was a dramatic shift in monetary policy — the Bank of Japan announced a decision to increase the interest rate from -0.1% to 0.1%. The central bank also abandoned yield curve […]