Logo-color Logo-white

Commitments of Traders aggregate net bullish open positions of large speculators in the Gold futures market have flashed a bearish contrarian condition. The recent rally in Gold (XAU/USD) has been primarily driven by an increase in geopolitical risk premium arising from Middle East tensions. A lack of fresh catalysts after the latest Iran retaliation offensive […]

The post Gold Technical: At Risk of Mean Reversion Corrective Decline After 19% Gain appeared first on Action Forex.

previous

Could Have Been Worse

next

Crypto Let Off Steam Rather than Start a Reversal

Read More

02/02/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently exhibits a neutral overall momentum, suggesting a lack of a strong trend in either direction. Price could potentially fluctuate between the 1st resistance and 1st support levels. The 1st support level at 102.79 is identified as an overlap support and is reinforced by the presence of the […]
03/04/2024

Brent Crude Oil Wave Analysis

Brent crude oil broke resistance level 86.70 Likely to rise to resistance level 90.00 Brent crude oil recently broke the resistance level 86.70, which reversed the price with the daily Evening Star in March. The breakout of the resistance level 86.70 was preceded by the breakout of the resistance trendline of the daily up channel […]
26/07/2024

USD/JPY Recovery Faces Challenges: What to Watch For

Key Highlights USD/JPY declined heavily before the bulls appeared near 152.00. A major bearish trend line is forming with resistance at 155.50 on the 4-hour chart. Crude oil prices remain at risk of more downsides toward $75.00. Ethereum saw bearish moves and might continue lower. USD/JPY Technical Analysis The US Dollar started a major decline […]