Logo-color Logo-white

Gold loses ground after hitting tough resistance Lacks bullish signals but pattern of higher lows remains intact Gold could not mark a new higher high above January’s tough resistance of 2,065, correcting lower to close around its 50-day exponential moving average (EMA) and the support trendline from November at 2,025. The latest downturn in the […]

The post Gold Flips Backwards But Still Shines Above 2,000 appeared first on Action Forex.

previous

Is German Industry Ready for Revival?

next

What Now for US Dollar After Rate Cut Delay?

Read More

26/06/2024

USD/JPY: Probes Again Through 160.00 Barrier and Hits New Multi-Decade Highs

USDJPY hit new multi-decade high above 160 on Wednesday, as bulls regained control after a two-day consolidation. Fresh probe above psychological 160 barrier suggests that bids remain strong despite warning that Japan’s authorities may intervene to support weakening national currency, with 160 zone seen as a likely trigger. Strong bids were also signaled by long […]
18/09/2024

USDJPY Experiences Renewed Decline as Market Adjusts Expectations

The USDJPY pair is currently stabilising around 141.44 on Wednesday, following a brief strengthening of the US dollar which impacted the yen negatively the previous day. Despite this, the overarching downward trend for the pair persists. Tuesday witnessed strong US retail sales data, bolstering the dollar’s strength temporarily and leading to a correction in the […]
27/05/2024

Crypto Market Struggles With Downtrend, Ethereum Tests Resistance

Market picture Crypto market capitalisation rose 6.2% in seven days to $2.57 trillion, approaching the area of this year’s highs above $2.7 trillion. Bitcoin’s price, like the overall market capitalisation chart, tests the upper boundary of the downward range that has been in force since March. The break of this downtrend is the ability to […]