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Key Highlights Gold rallied above the $2,120 and $2,180 resistance levels. It traded below a key rising channel with support at $2,170 on the 4-hour chart. EUR/USD and GBP/USD started a downside correction. Bitcoin price extended its rally above $72,000. Gold Price Technical Analysis Gold prices started a fresh increase from the $2,050 support against […]

The post Gold Price Rally Takes Break, Dips Turn Attractive appeared first on Action Forex.

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08/12/2023

Sunset Market Commentary

Markets The diptych of today’s US payrolls and next Tuesday’s US November CPI are the ultimate input for the Fed policy decision next Wednesday. Even as central bankers in their toolbox switched forward guidance for data dependency, the new projections/dots still will be key when investors make up their mind on the Fed’s intentions in […]
15/07/2024

GBP/USD Outlook: Cable Holding Near 1.3000 Barrier Ahead of Powell’s Speech

Cable keeps form tone on Monday and hit new yearly high, trading just ticks under psychological 1.30 barrier. The pair advanced strongly in past two weeks and bulls may start to lose traction on facing headwinds from 1.30 resistance, as daily studies are overbought, and 14-d momentum indicator is turning south at very high levels […]
02/07/2024

USD/JPY Rises Up After GDP Downgrade

The Japanese yen has dropped below the 161 line on Monday. The yen is trading at 161.39 early in the North American session, down 0.35% on the day. Japan’s GDP revised sharply lower Japan revised its first-quarter GDP report to -2.9%, y/y, sharply lower than the initial reading of -1.8%. On a quarterly basis, GDP […]