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Gold below key barriers ahead of next week’s FOMC policy announcement Technical signals cannot promise a meaningful rally Gold has been in a tight range within the 2,016-2,030 region so far this week, struggling to find enough buyers to close successfully above its exponential moving averages (EMAs) on the four-hour chart and the broken support trendline from […]

The post Gold Not Out of the Woods Yet appeared first on Action Forex.

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05/01/2024

GBPJPY Bullish Near the Top of a Short-term Range

GBPJPY meets former resistance after quick bounce Technical signals endorse a bullish breakout GBPJPY pivoted swiftly near its 200-day simple moving average (SMA) and recovered a three-week-old soft downturn but despite that, it’s still struggling to exit the short-term range above the tough 50-day SMA at 183.90. The technical indicators are feeding optimism that buying […]
26/07/2024

Gold Technical: Recent Sell-off May Have Reached a Potential Bullish Reversal Level at US$2,353

The recent weakness seen in Gold (XAU/USD) is likely to be driven by US politics as the “Gold premium” has moved in synch with the betting odds of Republican nominee Trump winning the US Presidential Election. The US Treasury market is likely to take a driver’s seat now as the focus returns to the monetary […]
21/06/2024

Euro Extends Losses After Soft PMIs Release

The euro has edged lower on Friday. EUR/USD is trading at 1.0687 in the European session, down 0.14% on the day. Is the eurozone economy slowing down? The week ended on a sour note in Europe as June PMIs declined in the eurozone. The Services PMI dropped to 52.6, down from 53.2 in May and […]