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China wants to grow 5% this year, create around 12 mio jobs in the urban area and print a 3% inflation. Targets are ambitious – especially the inflation target – given that the base effect will not play in favour of growth this year and deflation is not an easy battle to win – especially […]

The post US Dollar Index Stuck Between 100 and 200-DMA Before Powell’s Speech appeared first on Action Forex.

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Hang Seng Index Technical: Countertrend Rebound Phase May Have Ended

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USD/JPY: Bullish Bias Above 150, Key US Data Eyed for Fresh Signals

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13/06/2024

Oil Prices Recovers Sharply, Fed Holds Rates Steady

Key Highlights Crude oil prices started a strong recovery wave above the $75.00 resistance zone. There was a break above a key bearish trend line with resistance at $74.90 on the 4-hour chart. Bitcoin surged above $67,500 before trimming most gains. GBP/USD rallied to a new multi-week high and traded above 1.2800. Crude Oil Price […]
16/05/2024

Gold Wave Analysis

Gold broke daily down channel Likely to reach resistance level 2415.00 Gold recently broke the resistance trendline of the narrow daily down channel from April, which enclosed the previous ABC correction (4). The breakout of this down channel accelerated the active intermediate impulse wave (5) – which belongs to the higher order impulse sequence from […]
08/04/2024

Gold Hits New Record High Amid Favourable Factors

Gold’s price soared to a new record high on Monday, stabilising around 2344.00 USD per troy ounce. A confluence of factors is currently bolstering the precious metal’s value. Geopolitical tensions in the Middle East are a significant driver, positioning gold as a preferred “safe-haven” investment. Additionally, central banks worldwide are increasing their gold reserves, while […]