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Gold has experienced increased volatility over the past seven days, falling 4.4% from Friday’s high to Monday’s low and then rising 2.5% from the low. Much of gold’s recovery on Thursday was in tandem with a massive rally in equities in response to some improvement in weekly jobless claims. Technically, gold was able to find […]

The post Gold Is Back, But Not For Long appeared first on Action Forex.

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EUR/GBP : 200DMA So Far Holds Pullback from New Multi-Week High

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Canada’s Job Market Softens Further in July

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09/04/2024

GBPUSD Capped by 50-day SMA

GBPUSD trades sideways between parallel SMAs Remains within its medium-term neutral pattern Momentum indicators improve but stay in negative zones GBPUSD experienced a strong decline following its break above the rangebound structure in place since November. Despite the temporary violation of the 200-day simple moving average (SMA), the pair reversed back higher before the 50-day SMA curbed […]
11/03/2024

Gold Wave Analysis

Gold broke key resistance level 2150.00  Likely to rise to resistance level 2200.00 Gold continues to rise strongly after breaking the key resistance level 2150.00 (which stopped wave A of the active ABC correction at the start of last December, as can be seen below). The breakout of the resistance level 2150.00 accelerated the active […]
22/04/2024

Sunset Market Commentary

Markets Eurostat today published deficit and debt data for the years 2020-2023 in E(M)U). The euro area government deficit declined marginally from 3.7% of GDP in 2022 to 3.6% in 2023. The government debt to GDP ratio decreased over the same period from 90.8% to 88.6%. Zooming in on Belgium, Eurostat reported an increase of […]