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Key Highlights Gold rallied to a new all-time high above the $2,660 level. A major bullish trend line is forming with support at $2,590 on the 4-hour chart. Oil prices might struggle to settle above the $73.50 resistance zone. EUR/USD is consolidating gains above the 1.1080 support level. Gold Price Technical Analysis Gold prices started […]

The post Gold Surges to New Peak: Is $2,750 The Next Milestone? appeared first on Action Forex.

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15/03/2024

Fed Decision: Will the New ‘Dot Plot’ Boost Dollar?

Fed will announce its latest decision at 18:00 GMT Wednesday Almost certain to keep rates steady, so focus will fall on ‘dot plot’ Signals of fewer rate cuts this year could help the dollar recover Solid economy pushes back Fed cuts The US economy continues to defy expectations. Economic growth is on track to hit […]
18/01/2024

Trimming

Investors continue to come back to their senses and the latter involves trimming the interest rate cut expectations that went ahead of themselves over the past few months. Yesterday, the Federal Reserve’s (Fed) Beige Book survey suggested that resilient consumer spending during the holiday season helped propel the US economy, and another solid rise in […]
21/02/2024

WTI Crude Oil Wave Analysis

WTI crude oil reversed from resistance level 78.20 Likely to fall to support level 76.00 WTI crude oil recently reversed down from the key resistance level 78.20 (former support from August, which has been reversing the price from the start of November). The resistance level 78.20 was strengthened by the 38.2% Fibonacci correction of the […]