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Key Highlights Gold started a fresh increase from the $2,535 support. It broke a major bearish trend line with resistance at $2,630 on the 4-hour chart. Oil prices are recovering and might rise toward the $72.50 resistance. EUR/USD is consolidating losses near the 1.0520 level. Gold Price Technical Analysis Gold prices remained well-bid near the […]

The post Gold Stays Resilient: Can The Upswing Continue? appeared first on Action Forex.

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23/07/2024

GBPUSD Holds Well Below the 1-year High

GBPUSD eases but remains above uptrend line Stochastics and RSI suggest more losses GBPUSD is retreating after a strong rally towards the one-year high of 1.3045. The technical oscillators also confirm the bearish retracement. The stochastic is diving into oversold territory, while the RSI is pointing slightly down above the 50 level. If the dive […]
02/07/2024

Japanese Yen Faces Further Depreciation Amid Rate Differentials

The USD/JPY pair continues to escalate, currently positioned at 160.88, nearing the 37-year peak of 161.27 achieved last Friday. Early today, the yen temporarily strengthened following Japan’s Q2 Tankan survey results, which indicated a slight improvement in industrial sentiment to 13 points from 11. However, the services sector displayed mixed results, maintaining 27 points against […]
09/07/2024

Gold Technical: Further Drift Down in 10-year UST Real Yield Supports Bullish Narrative in Gold

Recent rebound in WTI crude has remained below US$90/barrel which in turn led to a softening of inflationary expectations via the breakeven rates. A further downward drift in the 10-year US breakeven rate may a further drop in the 10-year US Treasury real yield. Lower opportunity costs in hold Gold (XAU/USD) support the potential start […]