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As shown by today’s XAU/USD chart, the price of an ounce of gold is around $2,628, marking a new all-time high for three consecutive trading days: 20th, 23rd, and 24th September. The bullish sentiment in the gold market is driven by: → the reaction to Wednesday’s decision by the Federal Reserve to cut interest rates […]

The post Price of Gold Continues to Hit Record Highs appeared first on Action Forex.

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01/12/2023

EUR/USD Stands at the Back Foot Ahead of Fed Powell’s Speeches

EURUSD was a tad higher on Friday morning following nearly 0.8% drop on Thursday, when the Euro was deflated by soft EU inflation numbers which may add to ECB’s dovish stance in the near future. Additional pressure came from stronger dollar on speculations that Fed Chair Powell may surprise on hawkish shift in his speeches […]
13/02/2024

EUR/USD: Recovery Likely to Stall Under the Base of Thick Daily Cloud

Recovery leg from 1.0723 double bottom (Feb 5/6) started to face increased headwinds on approach to daily Tenkan-sen (1.0810), with the base of thick daily cloud (spanned between 1.0828 and 1.0969) laying just above and adding pressure. Initial signals of recovery stall are developing on daily chart as technical studies remain bearish (daily Tenkan / […]
16/04/2024

Hard to Justify a Cut

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