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The S&P 500 printed its 42nd record high this year yesterday on the back of a mix bag of economic and corporate news. First, the latest GDP data confirmed that the US economy grew 3% in Q2 and the price pressures fell. Corporate profits rose 3.5% in Q2 versus a 1.7% gain penciled in by […]

The post Saudi Throws in the Towel appeared first on Action Forex.

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28/08/2024

Gold Flirts With Short-Term Uptrend Line

Gold lies within near-term SMAs Momentum oscillators head down Gold unsuccessfully tested the all-time high of 2,531.66 again today, but it is still above the 2,500 round number and the short-term uptrend line. Currently, the price is challenging the 20- and 50-period simple moving averages (SMAs) in the 4-hour chart, with the technical oscillators showing some weakening momentum. […]
13/12/2023

EURAUD Wave Analysis

EURAUD reversed from key support level 1.6300 Likely to rise to resistance level 1.6500 EURAUD currency pair recently reversed up from the key support level 1.6300 intersecting with the lower daily Bollinger Band and the support trendline of the weekly down channel from August. The upward reversal from the support level 1.6300 stopped the previous […]
05/06/2024

AUD/USD and NZD/USD Could Continue Higher

AUD/USD is correcting gains from the 0.6700 zone. NZD/USD is showing positive signs and might attempt a fresh increase above 0.6200. Important Takeaways for AUD USD and NZD USD Analysis Today The Aussie Dollar started a downside correction from 0.6700 against the US Dollar. There is a key bullish trend line forming with support at […]