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Bearish scenario: Sell below 2200 / 2194 with TP1: 2190, TP2: 2180, and TP3: 2172 with S.L. above 2204 or at least 1% of account capital*. Nearest bullish scenario: Buy above 2197 with TP: 2200 and TP2: 2203, with S.L. below 2195 or at least 1% of account capital*. Apply trailing stop. Bullish scenario after […]

The post XAUUSD: In Supply Zone. How Far to Consider the Next Retracement? appeared first on Action Forex.

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AUDUSD Gets Bearish Vibes

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08/03/2024

USD/JPY Nosedives After Rejection, Gold Extends Rally

Key Highlights USD/JPY started a major decline from the 150.80 resistance zone. It traded below a key bullish trend line with support at 150.00 on the 4-hour chart. Gold prices surged above the $2,120 resistance zone. The nonfarm payrolls could change by 200K, down from 353K. USD/JPY Technical Analysis The US Dollar struggled to clear […]
08/01/2024

Monday’s Focus Will Be on Inflation Data

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 […]
03/08/2024

The Weekly Bottom Line: It’s A Different World

U.S. Highlights Nonfarm payroll gains came in lower than expected in July, with the unemployment rate heading higher. The numbers add to other data suggesting that the U.S. labor market is losing steam. While the Federal Reserve held rates steady at their July meeting as widely expected, Chair Powell gave the strongest indication yet that […]