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German 40 index strives to exit bearish formation before a widely expected rate cut Short-term risk skewed to the upside, but confirmation signal could come above 18,672 The German 40 index started Thursday’s session on a positive note, aiming to extend its latest upturn above its 20-day simple moving average (SMA) and out of the […]

The post GER 40 Index in Positive Mood Ahead of ECB Rate Decision appeared first on Action Forex.

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Gold Prices Reach 2368 USD Amid Speculation of Fed Rate Cuts

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05/07/2024

Anything But a Significant NFP Beat Probably Triggers Higher Bond Prices and Weaker Dollar

Markets An uneventful session yesterday put the UK elections in the spotlights. It’s already clear by now that Labour won enough seats to secure a majority (at least 326 seats of the 650 up for grabs) after being in the opposition for 14 years. Exit polls taken after voting booths closed at 10 PM yesterday […]
09/07/2024

Gold Wave Analysis

Gold reversed from resistance level 2400.00 Likely to fall to support level 2325.00 Gold today reversed down with the Bearish Engulfing from the key resistance level 2400.00 (which reversed the price at the start of June). The resistance level 2400.00 was strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of […]
26/06/2024

AUD/USD: Jumps on Higher Than Expected Australian Inflation

Australian dollar rose 0.6% in early Wednesday, lifted by higher than expected inflation (May 4.0% vs 3.6% in April and 3.8% f/c), which hit the highest in six months. Fresh rise in consumer prices adds to RBA’s hawkish stance, with jump in bets for August rate hike making the Aussie dollar more attractive. Near-term action […]