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Gold is trading sideways, well below its recent high Volatility remains elevated ahead of the US election Momentum indicators remain mostly bullish Gold is trading sideways today and thus failing to forcefully react to the two negative sessions that pushed it well below its all-time high of 2,790. Month-end portfolio reallocations and profit taking could […]

The post Gold in Anticipation Mode appeared first on Action Forex.

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19/12/2023

US 500 Index Rallies to New Highs in 2023

US 500 completes 8 green weeks Overall trend remains overwhelmingly positive The US 500 cash index rose to its highest level of 4,801 in at least two years. The index is recording the eighth straight green week following the strong rebound off the ascending trend line and the 4,120 support level. Weekly oscillators suggest that upside momentum […]
23/01/2024

CADJPY Wave Analysis

CADJPY reversed from key resistance level 110.00 Likely to fall to support level 109.50 CADJPY currency pair recently reversed down from the key resistance level 110.00, which stopped the previous wave (B) in the middle of November, as can be seen below. The resistance level 110.00 was strengthened by the upper daily Bollinger Band. The […]
17/01/2024

GBPAUD Wave Analysis

GBPAUD broke weekly down channel Likely to rise to resistance level 1.9265 GBPAUD currency pair recently broke the resistance trendline of the weekly down channel from last September. The breakout of this this down channel accelerated the active intermediate impulse wave (3). Given the strong Swiss franc sales seen across the FX markets today, USDCHF […]