Logo-color Logo-white

Gold prices soared to a new all-time high, with the troy ounce surpassing 2614 USD. This surge is primarily driven by expectations of additional interest rate cuts and ongoing geopolitical tensions, which enhance gold’s appeal as a safe-haven asset. Following the US Federal Reserve’s decision last week to reduce its interest rate by 50 basis […]

The post Gold Reaches New Record as Investors Eye Further Rate Cuts appeared first on Action Forex.

previous

Nosedive in Eurozone Economic Activity

next

Natural Gas Wave Analysis

Read More

14/12/2023

Dow Futures (YM) Breaking to New All-Time High

Dow Futures (YM) has broken to new all-time high, suggesting the trend remains firmly bullish. It also suggests the next bullish cycle has started. Short term, rally from 11.10.2023 low is currently in progress as a 5 waves impulse Elliott Wave structure. Up from 11.10.2023 low, wave ((i)) ended at 36337 and dips in wave […]
01/11/2024

USD/JPY Tests Key Support: Will It Bounce Back?

Key Highlights USD/JPY started a downside correction from the 153.85 zone. A connecting bullish trend line is forming with support at 151.45 on the 4-hour chart. Bitcoin trimmed gains and traded below the $70,000 level. Gold corrected gains sharply and traded below $2,780. USD/JPY Technical Analysis The US Dollar remained stable and extended gains above […]
11/06/2024

EURUSD Wave Analysis

EURUSD under bearish pressure Likely to fall to support level 1.0700 EURUSD currency pair under the bearish pressure after the earlier breakout of the support level 1.0800 (which stopped the previous wave (b) at the end of May). The breakout of the support level 1.0800 accelerated the active short-term impulse wave 3 from the start […]