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Gold advances after bouncing off 50-day SMA The bulls eye recent record high as next target Oscillators are cautiously tilted to the upside Gold has been trading back and forth within a range in the past month, unable to adopt a clear directional impetus. In the near term though, the precious metal has been on the rise […]

The post Gold on Track to Revisit All-Time High appeared first on Action Forex.

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15/01/2024

Gold: Potential Bullish Breakout from 6-Week Range

Positive price actions in Gold (XAU/USD) as it reintegrated back above its 20-day moving average. A continuation of the medium-term bearish trend on the US 10-year Treasury real yield below 1.82% key resistance may add further bullish impetus for Gold. A rise in geopolitical risk premium may also support a firmer Gold. Watch the US$2,015 […]
11/06/2024

Gold Wave Analysis

Gold reversed from support level 2300.00  Likely to rise to resistance 2385.00 Gold recently reversed up from the pivotal support level 2300.00 (which stopped the previous waves A, (4) and ii, as can be seen below). The support level 2300.00 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of […]
04/09/2024

Gold (XAU/USD) Under Pressure as Precious Metal Fails to Attract Haven Bids

Gold prices are trending down due to a lack of safe-haven bids and a strong US Dollar. Upcoming US jobs data and interest rate decisions will significantly impact gold’s future performance. September is historically a challenging month for gold, which could further influence its trajectory. In the early European session, gold prices continued their downward […]