Logo-color Logo-white

DXY: The DXY (US Dollar Index) chart currently exhibits a neutral overall momentum, suggesting a lack of a strong trend in either direction. Price could potentially fluctuate between the 1st resistance and 1st support levels. The 1st support level at 102.79 is identified as an overlap support and is reinforced by the presence of the […]

The post Technical Outlook and Review appeared first on Action Forex.

previous

USD/JPY Forms Another Bullish Pattern, US NFP Report Next

next

Groundhog Day: Hiring Once Again Starts the Year at Blistering Pace

Read More

13/09/2024

Gold Price Hits New Record

As shown by the XAU/USD chart: → Gold has reached a new all-time high; → This morning, gold is trading around $2,567 per ounce. Bullish sentiment is being driven by expectations of a Federal Reserve rate cut next week. According to MoneyControl, the International Monetary Fund stated on Thursday that it would be “appropriate” for […]
22/03/2024

Bank of England Review – Gearing Up for a June Cut

At today’s monetary policy meeting the BoE left the Bank Rate unchanged at 5.25% as widely expected. The BoE delivered a dovish twist to its forward guidance and general communication. This marks an important first step to an eventual cutting cycle. EUR/GBP moved slightly higher on the dovish vote split and communication. As expected, the […]
15/07/2024

Gold’s Rally Stalls at 7-Week High

Gold jumped to its highest level since May 22 last week But fails to extend rally, trading flat in past couple of sessions Despite latest weakness, oscillators remain positively tilted Gold has been experiencing solid gains since late June, with the break above its 50-day simple moving average (SMA) and restrictive trendline brightening the short-term technical outlook. […]