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Key Highlights Gold started a downside correction from the $2,380 zone. A key bearish trend line is forming with resistance at $2,370 on the 4-hour chart. Oil prices are showing bearish signs below $80.00. Bitcoin price is still consolidating above the $60,000 support zone. Gold Price Technical Analysis Gold prices started a fresh increase above […]

The post Gold Price Could Resume Upside, This Support Is The Key appeared first on Action Forex.

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12/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently demonstrates a bearish overall momentum, indicating a weaker stance for the US Dollar. This momentum suggests the potential for a bearish continuation towards the 1st support level. The 1st support at 101.77 is recognized as an overlap support and coincides with the 50% Fibonacci Retracement level. This […]
30/11/2023

GBPCHF Wave Analysis

GBPCHF reversed from resistance level 1.1130 Likely to fall to support level 1.1050 GBPCHF currency pair recently reversed down from the pivotal resistance level 1.1130, which stopped the previous minor correction 2 at the start of this month, as can be seen below. The resistance level 1.1130 was strengthened by the upper daily Bollinger Band […]
11/01/2024

Nikkei 225 Sets 21st Century High

As the chart shows, this morning the Nikkei 225 price exceeded 35,700, its highest level in decades. The Nikkei 225 index reached its all-time high on December 30, 1989, at 38,957.44 points. This was against the backdrop of Japan’s economic boom, which began in the 1980s and continued until the early 1990s. Nikkei 225 growth […]