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Near-term action remains in bearish mode and cracks first pivot at $28.65 (June 13 low), with pressure on nearby other key supports at $28.49 and $28.25 (Fibo 38.2% retracement of $26.00/$32.51/daily cloud base, respectively). Sustained break below $28.65/49 triggers to generate bearish signal on completion of failure swing pattern on daily chart/breach of pivotal Fibo […]

The post XAG/USD: Silver Price May Fall More on Breach of Pivotal Supports appeared first on Action Forex.

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02/07/2024

Australian Dollar Eyes Retail Sales

The Australian dollar has posted slight losses on Tuesday. AUD/USD is trading at 0.6649 in the European session, down 0.15% on the day. Australian retail sales expected to improve Australian consumers have been in frugal mood and have reduced their discretionary spending. Consumers have been squeezed by high borrowing costs and the high cost of […]
16/10/2024

This Time Is Not Different For China

Summary High profile policy announcements from China have captured financial markets’ attention over the past few weeks. China’s central bank eased monetary policy, while the Ministry of Finance deployed fiscal resources to aid the property sector and local banks. However, with few fiscal resources deployed toward supporting broader domestic demand, we don’t think the growth […]
06/06/2024

GBP/USD Shows Signs of Strength, 1.3000 Next?

Key Highlights GBP/USD gained pace for a move above the 1.2800 resistance. A major bullish trend line is forming with support at 1.2750 on the 4-hour chart. Gold prices are gaining pace above the $2,350 resistance zone. EUR/USD is aiming for a move toward the 1.0950 level. GBP/USD Technical Analysis The British Pound remained in […]