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Gold prices retreat as US Dollar strengthens as hopes of aggressive rate cuts fade. China’s economic slowdown concerns and potential sanctions impact iron ore and gold prices. Technical analysis indicates gold’s vulnerability to further downside, with key levels identified. Gold prices have started the week on the back foot as the US Dollar continues to […]

The post Gold (XAU/USD) Prices Slide as US Dollar (DXY) Rally Continues appeared first on Action Forex.

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14/03/2024

Silver Bulls Return With a Bang

Silver marks new higher highs in the year to date Some caution required as former resistance area is nearby Silver bulls roared back during Wednesday’s late European trading hours, with the metal soaring to a more-than-three month high of 25.14 before closing marginally below the 25.00 round level. The completion of a double bottom pattern around the […]
21/12/2023

Nasdaq 100 Technical: Potential Start of Minor Corrective Decline

Bearish reversal candlestick formed yesterday, its steepest daily loss since 27 October 2023. Odds now have skewed towards a potential minor corrective decline sequence within a medium-term uptrend phase. Watch the 16,800 key short-term resistance. The price actions of the US Nas 100 Index (a proxy for the Nasdaq 100 futures) have continued to rally […]
02/01/2024

Dollar Index: EU Inflation and US Labor Reports Eyed for Fresh Signals

The dollar index accelerated higher on the first trading day in 2024, extending bounce from five-month low of Dec 28 (100.30) into third consecutive day. Traders collected some profits from the broader downtrend, pushing the dollar’s price higher and sidelining immediate downside threats, as focus shifts to EU inflation data and US labor report, due […]