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Markets The November yield correction found an easy way in at the start of the final month of the year through a disappointing US manufacturing ISM. The headline figure stabilized at 46.7 instead of improving to an expected 47.8. New orders fell though less rapidly (48.3 vs 45.5) while employment dropped to 45.8. Actual output […]

The post Gold Advanced to 2072.22 appeared first on Action Forex.

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Gold Technical: Medium-Term Uptrend Remains Intact But Risk of Minor Pull-back

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18/03/2024

USD/JPY: JPY Plummeted, Ignoring the Possibility of a More Hawkish BoJ

The price actions of the USD/JPY have reacted negatively right below the 150.70 key resistance as highlighted in our previous analysis and shed -435 pips/-2.9% to print a recent intraday low of 146.48 on 8 March. Thereafter, the USD/JPY has drifted higher to trade back above the 148.00 psychological level in light of the “not […]
13/12/2023

EURAUD Wave Analysis

EURAUD reversed from key support level 1.6300 Likely to rise to resistance level 1.6500 EURAUD currency pair recently reversed up from the key support level 1.6300 intersecting with the lower daily Bollinger Band and the support trendline of the weekly down channel from August. The upward reversal from the support level 1.6300 stopped the previous […]
31/01/2024

A Dovish Fed Guidance May Not Reverse the Rout in China and Hong Kong Stock Markets

China and Hong Kong benchmark stock indices have almost erased last week’s gains. NBS Non-Manufacturing PMI sub-components for January are indicating feeble service activities in China. A weaker US dollar via a dovish forward monetary policy guidance from the Fed is not enough to act as a bullish catalyst for China and Hong stock markets. […]