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Gold advances above sideways channel 20- and 50-day SMAs tick up MACD and RSI suggest more upside pressure Next target at 261.8% Fibo extension of 2,515 Gold prices skyrocketed to another fresh high of 2,450 earlier in the day, currently holding above the previous peak of 2,431.48. This movement may be a sign of further […]

The post Gold Unlocks Another Record High appeared first on Action Forex.

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14/03/2024

In Wage Growth the BoJ Hopes

The spring wage decision will reflect cyclical factors rather than a structural shift leaving little reason for the BoJ to consider contractionary action. The Bank of Japan and financial markets are eagerly awaiting the Shunto wage decision for Japan’s largest trade confederation RENGO, which is due in. In our view, the result will likely be […]
25/01/2024

Sunset Market Commentary

Markets European January PMI surveys failed to really inspire trading. A disappointing outcome for the French services PMI – releases ahead of German and aggregate EMU data – caused a spike higher in German Bunds, but lack of follow-through buying rapidly pulled German bonds back to opening levels. The EMU composite PMI improved marginally from […]
04/01/2024

USDCAD Wave Analysis

USDCAD reversed from key support level 1.3200 Likely to rise to resistance level 1.3400 USDCAD currency pair recently reversed up from the key support level 1.3200 (which reversed the price multiples times in the middle of 2023, as can be seen below). The support level 1.3200 was further strengthened by the lower daily Bollinger Band […]