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In focus today Today we get a string of tier-2 data from the euro area. The most important ones are the euro area retail sales and German factory orders. The euro area November retail sales will provide important information about how consumption fared in Q4. German factory orders will shed light on the German industry […]

The post Monday’s Focus Will Be on Inflation Data appeared first on Action Forex.

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29/07/2024

Gold Bounces Off 50-Day SMA

Gold was retreating from its all-time high But the 50-day SMA prevented further declines Despite latest weakness, oscillators remain neutral-to-positive Gold had been in a strong uptrend since late May, which led to a fresh all-time high of 2,483 on July 17. Although bullion has been experiencing a significant pullback since then, the 50-day simple moving average […]
07/06/2024

GOLD (XAUUSD) Elliott Wave: Forecasting the Path

Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of GOLD (XAUUSD) , published in members area of the website. As our members know, GOLD ended cycle from the 2314.99 low as 5 waves structure. The commodity is now giving us pull back against the […]
09/01/2024

Gold Price Signals Fresh Decline, Upsides Limited

Key Highlights Gold prices started a fresh decline from the $2,088 resistance. A key bearish trend line is forming with resistance near $2,050 on the 4-hour chart. Crude oil prices are also struggling to rise above the $74.00 resistance. EUR/USD managed to stay above the 1.0880 support zone. Gold Price Technical Analysis Gold gained pace […]