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Gold price is correcting gains below the $2,050 support. Crude oil prices declined steadily below the $75.90 support and moved into a bearish zone. Important Takeaways for Gold and Oil Prices Analysis Today Gold price rallied to new highs above $2,120 before it corrected lower against the US Dollar. A key bearish trend line is […]

The post Gold Price Retreats From Highs and Crude Oil Price Dives appeared first on Action Forex.

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11/04/2024

USD/JPY Rises to Highest Since 1990

This morning the USD/JPY rate is around 153.20 yen per US dollar, which was facilitated by a sharp strengthening of the dollar against the backdrop of news about inflation in the United States. Thus, the yen weakened to levels last seen in mid-1990. At the same time, an important event occurred — a bullish breakdown […]
18/01/2024

Pound Doesn’t Give Up Without a Fight, Thanks to CPI

UK inflation statistics sparked a 0.8% rally in the pound on Wednesday morning, supporting GBPUSD gains against a general pull from risk assets. According to data released on Wednesday morning, the General Price Index rose by 0.4% for December against an expected 0.2%. Annual inflation accelerated to 4.0%, the first rise in 10 months. The […]
16/01/2024

USDJPY on the Rise Again

USDJPY tries to switch medium-term outlook to bullish Prices hold within Fibonacci levels Technical signals are positive USDJPY is looking to resume its bullish trend, having softly pivoted near the 50.0% Fibonacci retracement level of the down leg from 151.90 to 140.20 at 146.07. To attract new buyers, the bulls will have to surpass the […]