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Silver slides after unlocking an almost 12-year high Technical signals suggest rally is overstretched Silver made some big waves on Friday, and it even found fresh buying interest to run up to 34.25 on Monday – its highest point in nearly twelve years. But now it seems like the bulls might need to catch their […]

The post Silver’s Bounce May Take a Rest Ater 12-year High appeared first on Action Forex.

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14/03/2024

Gold Regains Traction After a Shallow Pullback as June Rate Cut Expectations Remain in Play

Gold price rose on Wednesday, reversing a part of Tuesday’s 1.1% drop, sparked by hotter-than-expected US inflation data, which temporarily cooled expectations for rate cut in June. Fresh gains suggest that markets believe, after digesting the data, that elevated inflation won’t have stronger negative impact on current expectations for the start of monetary policy easing. […]
05/07/2024

Bitcoin (BTCUSD) Found Sellers After Elliott Wave Zig Zag Pattern

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Bitcoin ( BTCUSD). As our members know, Bitcoin is correcting the cycle from the 25068 low, and we have been predicting a price decline. Recently, we observed a bounce against the June 7th peak. This […]
21/10/2024

Weak German PPI Send the Euro Back Down

Market picture The German Producer Price Index fell more than expected, preventing the EURUSD from extending the rebound seen at the end of last week. Producer prices in Europe’s largest economy fell 0.5% in September (-0.2% expected), accelerating the annual decline to 1.4% (-0.8% expected) from 0.8% in the previous month. The negative annual growth […]