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Key Highlights Gold failed to clear the $2,725 resistance and corrected gains. A connecting bullish trend line is forming with support at $2,630 on the 4-hour chart. Oil prices are struggling to clear the $71.50 resistance. EUR/USD could decline if it breaks the 1.0450 support level. Gold Price Technical Analysis Gold prices remained well-bid near […]

The post Gold Signals Caution: A Shift in Trend Ahead? appeared first on Action Forex.

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24/12/2024

RBA More Confident About Rate Cut, Aussie Shrugs

The Australian dollar has posted slight losses on Tuesday. In the European session, AUD/USD is trading at 0.6247, down 0.18% at the time of writing. RBA minutes hint at rate cut The Reserve Bank of Australia minutes from the December meeting were significant although they didn’t have much impact on the Australian dollar. The minutes […]
11/12/2024

US Inflation and Dollar Index (DXY) : A Pre-CPI Analysis

The upcoming US CPI data release on December 11th is a key event for markets, as it could influence the Fed’s decision on interest rates at its December 18th meeting. While a rate cut is widely expected, a higher-than-forecast CPI print could raise questions about the Fed’s path forward. The US Dollar has strengthened recently, […]
24/04/2024

Gold Technical: Is Bull Run Over After Worst Daily Decline in 2 Years?

The price actions of Gold (XAU/USD) have shaped the mean reversion decline after a test on the US$2,420 intermediate resistance. It tumbled by -2.7% on Monday, 22 April, its worst daily performance since 13 June 2022 (almost two years), and continued to extend its losses in yesterday’s (23 April) Asian session. So far, it has […]