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Gold has been hitting all-time highs almost daily for the past two weeks, reaching $2365 in the spot market on Tuesday before the start of US trading. The ability to rise above $2070 per ounce, which gold found in late February, has signalled a break of resistance that has kept gold above since August 2020. […]

The post Gold Temporarily Ignores Negative News appeared first on Action Forex.

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23/05/2024

USDCAD Wave Analysis

USDCAD reversed from pivotal support level 1.3585 Likely to rise to resistance level 1.3750 USDCAD currency pair recently reversed up from the pivotal support level 1.3585 (former strong resistance from December, February and March) intersecting with the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from December. The upward reversal […]
28/08/2024

Euro Declines Ahead of German Inflation, US GDP

The euro is sharply lower on Wednesday. In the European session, EUR/USD is trading at 1.1116 at the time of writing, down 0.60% on the day. There are no tier-1 events on today’s data calendar but Thursday will be busy, with German CPI and US GDP. German CPI expected to ease Germany, the largest economy […]
30/08/2024

U.S. Consumers Start Q3 on an Upbeat Note; Income and Spending Rise, Inflation Stable

Personal income grew 0.3% month-on-month (m/m) in July, up from June’s 0.2% gain and above market expectations (0.2%). Accounting for inflation and taxes, real personal disposable income grew 0.1% for a second consecutive month. Personal consumption expenditures growth accelerated in July, up 0.5% m/m. This was higher than the 0.3% recorded in June, but in […]