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Over the summer, we have seen big moves in financial markets largely reflecting conflicting views of the US economy. During the first half of 2024, markets were often driven by concerns about persistently high US inflation and the implication that it would be difficult for the Fed to reduce interest rates. However, the last three […]

The post Weekly Focus – From Fear of Inflation to Fear of Slowdown appeared first on Action Forex.

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XAUUSD: Formation of Bullish Pattern: Signs of Trend Continuation

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03/02/2024

Canadian Dollar Eyes US Nonfarm Payrolls

US nonfarm payrolls expected to drop to 180,000 The week wraps up with the US nonfarm payroll report later today. The ADP employment report, which was released on Wednesday, fell from 158,000 to 107,000. The ADP report isn’t considered a reliable guide for nonfarm payrolls, but investors still attach significance to it as they hunt […]
30/07/2024

AUDCHF Wave Analysis

AUDCHF reversed from key support level 0.5735 Likely to rise to resistance level 0.5850 AUDCHF currency pair recently reversed up with the daily Japanese candlestick Piercing Line from the key support level 0.5735 (the previous monthly low from April, as can be seen below). The support level 0.5735 was strengthened by the nearby lower daily […]
24/04/2024

Gold Technical: Is Bull Run Over After Worst Daily Decline in 2 Years?

The price actions of Gold (XAU/USD) have shaped the mean reversion decline after a test on the US$2,420 intermediate resistance. It tumbled by -2.7% on Monday, 22 April, its worst daily performance since 13 June 2022 (almost two years), and continued to extend its losses in yesterday’s (23 April) Asian session. So far, it has […]