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Gold price rallied further and traded to a new high above $2,680. Crude oil is showing bearish signs and might decline below $66.80. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a steady increase from the $2,545 zone against the US Dollar. A key bullish trend line is forming with support […]

The post Market Analysis: Gold Price Sets New High While Oil Price Dips Further appeared first on Action Forex.

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08/06/2024

Fed Set to Hold Rates as Inflation and Other Indicators Show Mixed Signals

Wednesday’s U.S. Consumer Price Index data and the Federal Reserve’s interest rate decision will be in focus after the Bank of Canada and European Central Bank cut rates the week before. The Fed is not expected to follow suit—at least not right now. We expect U.S. CPI growth numbers out in the morning before the […]
16/01/2024

Pound Enters Correction Phase

The British Pound has lost around 0.5% against the Dollar since the start of the day on Tuesday, falling to 1.2660. Markets have eased expectations for aggressive US interest rate cuts. In addition, UK employment data was released that provided new evidence of a slowdown. The fresh report for the three months to November showed […]
06/03/2024

DAX Bullish Impulse Looks Incomplete

Short Term Elliott Wave View in DAX suggests that rally from 1.17.2024 low is in progress as a 5 waves impulse. Up from 1.17.2024 low, wave ((i)) ended at 17049.52 and dips in wave ((ii)) ended at 16834.94. Up from there, wave ((iii)) is in progress as a 5 waves impulse. Wave (i) ended at […]