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Gold price started a fresh decline below $2,665. Crude oil prices are now struggling to clear the $70.00 and $70.50 resistance levels. Important Takeaways for Gold and Oil Prices Analysis Today Gold price climbed higher toward the $2,665 zone before there was a sharp decline against the US Dollar. A key bearish trend line is […]

The post Gold Price and Crude Oil Price Face Hurdles appeared first on Action Forex.

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05/09/2024

Loss of Interest Rate Support Weighed on Dollar

Markets Yesterday’s JOLTS report was yet another perfect illustration of market’s high sensitivity to the labour market since Fed chair Powell bombarded it to the single most important theme for policy. July Job openings in the US tumbled from a downwardly revised 7.94 mln to 7.67 mln, undershooting consensus by about 400k. Resisting the urge […]
22/03/2024

SNB First G10 Bank to Cut Rates

In focus today It should be a quiet finish to a very busy week for macro news. Today we will get the second wage tally from the Japanese “spring wage offensive”. It will be interesting to see if the solid pay hike in big business has rubbed off more broadly. Today we also look out […]
25/01/2024

Dow Futures (YM) Pullback Should Find Support in 3, 7, 11 Swing

Short Term view on Dow Futures suggests rally from 10.27.2023 low ended at 38113 as wave (3). Pullback in wave (4) unfolded as a double three Elliott Wave structure. Down from wave (3), wave W ended at 37470 and wave X ended at 38038. Wave Y lower ended at 37298 as the 1 hour chart […]