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Gold is trading higher again today Volatility is high ahead of key US data prints Momentum indicators remain bullish Gold is trading higher again today, recording a new all-time high, following a very strong performance on Tuesday. This move could be attributed to the dollar being slightly on the back foot today, but, most likely, […]

The post Gold Rallies Ahead of Key US Events appeared first on Action Forex.

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17/05/2024

Elliott Wave Expects Silver (XAGUSD) Pullback to Find Support

Short Term Elliott Wave in Silver (XAGUSD) suggests the metal rallies in impulsive structure from 10.3.2023 low. Up from there, wave (1) ended at 25.91 and dip sin wave (2) ended at 21.94. The metal then extended higher in wave (3) towards 29.79. Pullback in wave (4) ended at 26.02 as the 1 hour chart […]
15/01/2024

Euro Drifting Ahead of German CPI

The euro is showing limited movement on Monday. In the European session, EUR/USD is trading at 1.0948, down 0.02%. German inflation is on the rise Germany’s inflation rate climbed to 3.7% y/y in December, up from 3.2% in November, which was a two-year low. We’ll get the final estimate on Tuesday. The main contributor to […]
15/05/2024

PPI Data Didn’t Feel ‘Right’

Yesterday was one of those days when investors insisted on seeing a glass that was one-tenth full as completely full. The US producer price data came in higher than expected. The US factory-gate prices jumped 0.5% on a monthly basis instead of 0.3% penciled in, the yearly figures increased in line with expectations. US President […]