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Gold (XAUUSD) has rebounded, trading in the $2,340s on Thursday, due to a weaker US Dollar following the second estimate of US GDP data, which was revised down because of reduced consumer spending. The annualized US GDP growth for Q1 was adjusted to 1.3% from an initial estimate of 1.6%, below Q4’s 3.4% but matching […]

The post Gold: Looking Good for Bulls appeared first on Action Forex.

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13/03/2024

Gold: Correction is Fuel for Growth

Gold lost over 1% on Tuesday, its first daily decline after nine days of gains, six of which were all-time highs. Signs of consolidation were already evident on Monday and Tuesday, which began with a moderate decline, accelerated by the release of US inflation data. While the rush out of risk assets on this news […]
31/05/2024

USDCAD Meets Uptrend Line Again and Again

USDCAD fails to climb above 1.3740 Momentum oscillators show contradicting signs USDCAD has been rebounding off the medium-term ascending trend line over the last couple of weeks, remaining in a positive territory. However, the pair is also finding strong resistance around the 1.3740 barricade with the short-term simple moving averages (SMAs) suggesting a potential bearish […]
21/08/2024

Yen Heads for a New Round of Growth

Since the end of last week, the Yen has regained ground against the Dollar and the Euro in what looks like a new round of appreciation. So far, this seems to be an independent theme for the Yen’s rise, without any deterioration in sentiment in the equity and bond markets. EURJPY plunged from a peak […]