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Gold remains in red for the second consecutive day and fell below $2000 early Monday, pressured by firmer dollar on solid US labor data. Friday’s 1.2% drop generated fresh bearish signal on close below $2015 pivot (Fibo 38.2% of $1810/$2141), with extension lower adding to the strength of bearish continuation signal. Near-term technical picture is […]

The post XAU/USD: Gold Stands at the Back Foot Ahead of Key Events appeared first on Action Forex.

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21/08/2024

EURUSD Wave Analysis

EURUSD broke resistance area Likely to rise to resistance level 1.1135 EURUSD currency pair just broke the resistance area located between the resistance level 1.105 (which reversed the price last week) and the resistance trendline of the daily up channel from the middle of April. The breakout of this resistance area accelerated the active impulse […]
12/03/2024

Technical Outlook and Review

DXY: The DXY (Dollar Index) chart exhibits bullish momentum, hinting at a potential bullish rebound around the pivot level and subsequent movement towards the 1st resistance. The pivot at 102.86 serves as significant overlap support, indicating potential buyer intervention for a bullish bounce, with the 1st support at 101.86 reinforcing this pattern. On the resistance […]
27/03/2024

GBP/USD Dives While USD/CAD Gains Bullish Pace

GBP/USD declined below the 1.2665 support zone. USD/CAD is rising and might aim for more gains above the 1.3610 resistance. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a fresh decline from the 1.2800 resistance zone. There was a break below a key rising channel with support at 1.2630 on the […]