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Gold charts a new record high after two-week rally Technical picture signals a temporary slowdown Gold hit a new milestone early on Monday, unlocking a fresh record high of 2,631 following two consecutive impressive weeks in uncharted territory, which boosted the price by 5%. The precious metal is sailing in overbought waters according to the RSI and […]

The post Gold Near a Peak, But Uptrend Might Stay Solid appeared first on Action Forex.

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03/04/2024

EUR/USD Drifting as Eurozone Inflation Drops

The euro is showing little movement on Wednesday. In the European session, EUR/USD is trading at 1.0777, up 0.05%. Eurozone inflation ticks lower Inflation in the eurozone continues to decline. March CPI eased to 2.4% y/y, down from 2.6% in February and below of the market estimate of 2.6%. This matched November’s 28-month low and […]
22/04/2024

USD/JPY: Keeps Firm Tone and Continues to Trade Near Pivotal 155.00 Barrier

USDJPY keeps firm tone and continues to trade near pivotal 155 barrier, where strong offers cap the action on expectations that Japan’s authorities may intervene at this zone. Technical picture on daily and weekly chart remains increasingly bullish, with strong positive signal generated on weekly close above important Fibo level at 152.60 (38.2% of larger […]
23/07/2024

US GDP and PCE Inflation Up Next Before July FOMC

Fed to get final clues on growth and inflation before July meeting But with traders more preoccupied with politics, will the data move the dollar? Preliminary GDP is due Thursday and PCE inflation on Friday, both at 12:30 GMT Fed still wants to see more progress The recent inflation reports have brought some much needed […]