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Gold has hit all-time highs on each of the last six trading days. Thursday’s touch of $2685 followed the strongest selling momentum since 18th September, when initial profit-taking expanded following the release of strong GDP growth estimates. Short-term intraday profit-taking is both fuel for further gains and a sign of uncertainty at this stage of […]

The post The Wild Part of the Gold Rally appeared first on Action Forex.

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29/08/2024

US Dollar Index Outlook: Bears Take a Breather for Limited Correction Ahead of Key US Data

The Dollar Index extends recovery into second straight day, lifted by short covering ahead of key supports at 100.29/21 zone (Dec 2023 low / 200WMA). Oversold daily studies contributed to fresh rise, as stochastic and RSI emerged from oversold zone and bearish divergence of stochastic indicator signaled rebound in advance. Bounce is likely to be […]
20/06/2024

Euro on Firmer Footing ahead of Flash PMIs as French Risks Subside

Euro rebounds as French election fears ease June PMIs to come into the spotlight amid more cautious ECB Flash estimates are due on Friday at 08:00 GMT Calmer week for the euro after French turmoil European assets are having a better week following the market panic sparked by the rise of the far right across […]
19/08/2024

USD/JPY Outlook: Japanese Yen Regains Traction vs Dollar on Renewed Expectations for Dovish Fed

USDJPY dips further on Monday, adding to signals that corrective phase off 141.68 (Aug 5 spike low) is likely over. Upleg from 141.68 was repeatedly capped at pivotal Fibo barrier at 149.36 (38.2% retracement of 161.80/141.68) with subsequent weakness being sparked by renewed risk appetite. Yen also appreciates on signals that gap between policies of […]