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Silver climbed above $29.8, rewriting the highs from January 2021, but once again faced selling intensification from that level for the first time in four years and has pulled back to $29.40 at the time of writing. Silver does not look overheated, as it is only now entering overbought territory on the RSI on the […]

The post After Surpassing $30, Silver May Aim for $50 appeared first on Action Forex.

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02/08/2024

USD/CHF Falls to Lowest Level in Nearly Six Months

As today’s USD/CHF chart shows, the exchange rate has fallen below 0.872 – the Swiss franc hasn’t been this strong against the US dollar since early February this year. Bearish sentiment is driven by: → Expectations of a Fed rate cut, weakening the US dollar; → Low inflation in Switzerland – today’s CPI data shows […]
04/06/2024

Oil Prices Dive: Is a Rebound on the Horizon?

Key Highlights Crude oil prices extended losses below the $76.80 support. There was a break below a key expanding triangle with support at $76.20 on the 4-hour chart. GBP/USD gained pace for a move above the 1.2750 resistance. EUR/USD shows positive signs for a move toward the 1.0950 resistance. Crude Oil Price Technical Analysis In […]
16/01/2024

NZ First Impressions: NZIER Survey of Business Opinion, Q4 2023

The latest update on business sentiment pointed to resilience in activity and easing inflation pressures. Key results (seasonally adjusted) General business confidence: -10.2 (Previous: -49.0) Trading activity, past three months: 6.3 Previous: -16.8) Trading activity, next three months: 4.9 (Previous: -12.1) % of businesses reporting a rise in operating costs over the past 3 months: […]