Logo-color Logo-white

Gold has hit a glass ceiling at $2525 an ounce on the spot market, which it has been battling against for the past two weeks. A series of smaller and smaller pullbacks and more frequent rallies to the resistance indicate impressive buying pressure. Under these conditions, we should expect a breakout to the historical highs […]

The post Gold Tries to Break Out of a Triangle appeared first on Action Forex.

previous

USD/CHF Rebounds from Yearly Lows

next

BoC to Cut Rates Again Ahead of Pivotal U.S. Employment Report

Read More

10/09/2024

Is EUR/USD Vulnerable Ahead of ECB Meeting…? DXY to Play a Major Role

The US Dollar Index (DXY) has rebounded since Friday’s jobs data release, driven by altered rate cut expectations. EUR/USD is particularly affected by the DXY recovery, with the Euro’s recent strength potentially waning due to poor German data and shifting rate cut expectations. The DXY’s technical analysis suggests further upside potential, with immediate resistance at […]
14/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows a bearish overall momentum, indicating a downward trend in the US dollar. Price could potentially continue this bearish movement towards the 1st support level. The 1st support at 102.46 is categorized as a swing low support, and it has historical significance as a level where buying […]
31/07/2024

Gold, Crude Oil Prices Soar on Rising Middle East Tensions, FOMC Next

Gold and oil prices have surged due to rising tensions in the Middle East. Gold with a trendline break as bulls eye $2480/oz, FOMC meeting next. Brent crude oil found support around the 78.00 handle and is currently trading at 80.82 a barrel, with potential for further upside due to geopolitical risks. Gold and oil […]