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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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05/12/2023

AUDUSD Plummets Below Uptrend Line

AUDUSD posts several red candles Holds below the SMAs Technical oscillators hold in negative areas AUDUSD has been in a bearish corrective mode during the week, penetrating the short-term uptrend line to the downside with strong momentum. Entering the 0.6570 area has been a struggle over the past three days, and there might be another […]
10/05/2024

EURUSD Elliott Wave: Forecasting the Rally from Equal Legs Area

Greetings fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of EURUSD, published in members area of the website. As our members know, EURUSD has ended the cycle from the December’s 2023 peak. The pair has recently pulled back in a 3-wave pattern, with buyers stepping […]
07/04/2024

Forex and Cryptocurrency Forecast

EUR/USD: The Dollar Weakness Puzzle What transpired with the EUR/USD pair last week? It behaved as expected on Monday, 01 April. However, starting from Tuesday, the situation deviated. Let’s delve into the details. On the first day of April, data on business activity in the US industrial sector from the ISM for March showed the […]