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Gold violates bullish structure; prints a head and shoulders pattern Short-term risk is negative; confirmation signal awaited below 2,285 Gold has stabilized near May’s floor of 2,285 after losing more than 3.0% on Friday to mark its biggest daily loss in two years. The price’s current lackluster performance indicates a probable bearish continuation, given its drop below the […]

The post Gold Could Be Poised for a Continuation Lower appeared first on Action Forex.

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30/01/2024

Silver Recovers But Picture Still Cautiously Negative

Silver prices bounce back after seven-week decline Momentum oscillators around their neutral levels Break either above 24.60 or below 21.90 would signal direction Silver prices have risen over the last week, breaking above a downtrend line to recover a small chunk of the losses from the selloff that started in early December. That said, the […]
07/02/2024

Australian Dollar Yawns as RBA Stands Pat

The Australian dollar is showing limited movement on Tuesday, after the Reserve Bank of Australia held interest rates. In the European session, AUD/USD is trading at 0.6493, up 0.61%. RBA maintains rates The RBA left interest rates unchanged at 4.35% at its first meeting of 2024. The central bank raised rates by a quarter-point in […]
30/11/2023

Gold Price Rally Pauses But Not Likely Over

Key Highlights Gold prices rallied over the $2,000 and $2,020 resistance levels. A key bullish trend line is forming with support near $2,025 on the 4-hour chart. Crude oil prices are attempting a recovery wave from the $72.00 zone. EUR/USD climbed above the 1.1000 level before the bears appeared. Gold Price Technical Analysis Gold remained […]