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Key Highlights Crude oil prices declined heavily below the $73.50 support. A connecting bearish trend line is forming with resistance near $71.45 on the 4-hour chart. Gold prices also declined and traded below the $2,000 support. The Fed interest rate decision is scheduled today (forecast 5.5%, versus 5.5% previous). Crude Oil Price Technical Analysis In […]

The post Crude Oil Price Resumes Slide, Fed Rate Decision Up Next appeared first on Action Forex.

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15/08/2024

Gold Wave Analysis

Gold reversed from resistance zone Likely to fall to support level 2400.00 Gold recently reversed down from the resistance area located between the strong resistance level 2475.00 (which stopped the previous impulse waves (3) and 1) and the upper daily Bollinger Band. The downward reversal from the resistance level 2475.00 stopped the previous impulse waves […]
19/03/2024

AUD: Markets Prepare for RBA Rates Statement.

The Reserve Bank of Australia (RBA) is widely anticipated to maintain its current interest rates at 4.35% following its two-day meeting concluding on Tuesday. Despite holding rates steady since December, the RBA has hinted at the possibility of further rate hikes due to persistently high inflation, which has exceeded its target range of 2% to […]
30/11/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index), the overall momentum of the chart is bearish, suggesting a potential download movement in price. In this scenario could potentially make a Bearish continuation towards the 1st support. The 1st support at 102.30 is identified as a pullback support. This suggests that it’s a significant level where buying interest […]