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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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28/03/2024

Something Must Give

European stocks renewed record on Wednesday, the US dollar consolidated gains and the S&P500 stocks got a late-session boost. Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat. Nvidia fell 2.5% yesterday. […]
23/10/2024

GBP/USD Extends Losses: Can The Pair Find Support Soon?

Key Highlights GBP/USD started a fresh decline below the 1.3120 support. A connecting bearish trend line is forming with resistance at 1.3025 on the 4-hour chart. Gold prices rallied to a new all-time high above $2,740. EUR/USD declined further and traded below 1.0820. GBP/USD Technical Analysis The British Pound started a fresh decline below the […]
08/10/2024

WTI Wave Analysis

WTI under strong bullish pressure Likely to rise to resistance level 78.3 WTI crude oil under the strong bullish pressure after the price broke the resistance level 71.30 (former strong support from August) intersecting with the resistance trendline of the daily down channel from July. The breakout pf the resistance level 71.30 accelerated the active […]