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Gold posts a fresh all-time peak of 2,142 on Monday But fails to hold onto its gains, falling back below April high Momentum indicators point at an overstretched advance Gold had been in a steep uptrend since November 10, when the price bounced off the crucial 200-day simple moving average (SMA). On Monday, bullion recorded a fresh […]

The post Gold Storms to Record High Before Surrendering Intraday Gains appeared first on Action Forex.

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21/06/2024

EUR/USD: Falls Further on Downbeat PMI Data

EURUSD fell to one week low on Friday and extended strong fall of Thursday, after the pair came under fresh pressure from downbeat PMI data. The reports released on Friday showed that activity in services industry in the Eurozone and bloc’s two largest economies – Germany and France slowed in Jume, while downturn in manufacturing […]
18/12/2023

EUR/USD: Regains Traction But Recovery Faces Strong Headwinds

EURUSD found a footstep and firmed on Monday after 0.9% drop last Friday, following a double failure at psychological 1.10 barrier. However, recovery is unlikely to extend much as near-term action is weighed by much weaker-than-expected German Ifo data and rising bearish momentum on daily chart. Also, long upper shadow on last week’s candlestick and […]
18/01/2024

OPEC Forecasts an Increase in Oil Demand in 2024

Yesterday, the monthly oil market review was published: → OPEC expects global oil demand to increase by 2.25 million barrels per day (b/d) in 2024, representing a 2.2% increase compared to 2023. → In 2025, OPEC predicts a demand increase of 1.85 million barrels per day, reaching 106.21 million barrels per day. It is anticipated […]