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The US economy added 275K new nonfarm jobs last month, significantly more than around 200K new job additions penciled in by analysts. But happily, the unemployment rate unexpectedly rose to 3.9% and wages grew slower than expected on a yearly basis and were almost flat on a monthly basis. The fact that another strong NFP […]

The post Gold Hits Record as Net Long Positions Jump appeared first on Action Forex.

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Gold Marches to Consecutive All-Time Highs

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26/07/2024

Elliott Wave Intraday Analysis: CHFJPY Bouncing Higher from Support Zone

Short Term Elliott Wave view in CHFJPY suggests the decline from 7.11.2024 high unfolded as a zigzag structure. Down from 7.11.2024 high, wave A ended at 175.84 and rally in wave B ended at 177.64. The pair then extended lower in wave C with internal subdivision as an impulse. Down from wave B, wave ((i)) […]
18/09/2024

GBP/USD Bounces Back: Fed Rate Decision Looms Large Over Next Move

Key Highlights GBP/USD started another increase from the 1.3000 support. It cleared a key bearish trend line with resistance at 1.3180 on the 4-hour chart. The UK CPI could rise by 2.2% in August 2024 (YoY). Today, the Fed could reduce interest rates from 5.50% to 5.25%. GBP/USD Technical Analysis The British Pound found support […]
19/06/2024

CHF: Getting Bid Up Due to Safe Haven Status

The prior 6-month weakness of the Swiss franc against G-10 currencies has seen a short-term bullish reversal due to safe haven demand. Ongoing political uncertainty arising from the upcoming French legislative elections reinforced the ongoing CHF strength which led to three consecutive weekly losses on the EUR/CHF cross pair. A surprise dovish stance from the […]