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Gold enters a new bull run; shifts spotlight to all-time high Technical signals point to more upside; close above 2,650 needed Gold started a new bullish corrective phase near the 2,600 level last week, adding extra credence to its upward trend that has been active for more than two months. On Monday, the price climbed […]

The post Gold Might Take Another Bullish Shot appeared first on Action Forex.

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News of the Week (October 14—October 18): EURGBP Market Analysis

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29/04/2024

Currency Interventions Usually Don’t Have Long-Lasting Market Impact

Markets The Japanese yen slid dramatically on Friday as the Asian island was heading towards a long weekend. USD/JPY soared from 155.65 to 158.44 in the wake of another JPY disappointing BoJ meeting. It contrasted with Fed policy needing to be restrictive for longer. The latter was once again obvious from higher than expected March […]
18/07/2024

USDJPY: What’s Happening With JPY? Scenarios after BoJ Intervention

Bullish Scenario: Buy above 156.45 with targets at 157.16, 157.90, and 158.10 in extension. Set S.L below 155.80 or at least 1% of the account’s capital. Apply Trailing Stop. Bearish Scenario: Sell below 157.16 or 157.90 (where a PAR* forms) with TP1: 156.00, 155.80, 155.00, and 156.56 in extension with S.L above 158.00 or at […]
08/08/2024

Nikkei 225: Potential Bullish Key Reversal Week Aafter 4 Weeks of Decline

Monday, 5 August significant sell-off in the Nikkei 225 has triggered a potential bullish key reversal inflection week. Citigroup Economic Surprise Index for Japan staged a positive turnaround on Monday, 5 August which suggests an improvement in macro data. The percentage of Nikkei 225 component stocks trading above their respective 200-day moving averages has reached […]