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In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the XAUUSD. The rally from the 25 July 2024 low showed a higher high sequence & provided a short-term opportunity at the blue box area. In this case, the pullback managed to reach the blue box area […]

The post XAUUSD Perfectly Reacting Higher From The Blue Box Area appeared first on Action Forex.

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24/10/2024

CADJPY Wave Analysis

CADJPY broke resistance zone Likely to rise to resistance level 112.00 CADJPY recently broke the resistance zone between the resistance level 110.00 (which stopped the previous impulse wave 1) intersecting with the 50% Fibonacci correction of the downward correction from the start of July. The breakout of this resistance zone accelerated the active short-term impulse […]
11/11/2024

XAU/USD Outlook: Gold Holds in Red as Markets Await Fresh Signals from US Inflation Data

Gold remains at the back foot and stays in red for the second day on firmer dollar and also pressured by eased US political uncertainty, which recently fueled safe haven demand, along with geopolitics and expectations for stronger Fed rate cuts. New circumstances after Trump’s victory point to measures which will boost economic growth and […]
19/12/2023

Canadian Dollar Drifting Ahead of CPI Release

Canada’s inflation rate expected to fall to 2.9% Fed members push back against rate cut expectations The Canadian dollar is showing little movement on Tuesday. In the European session, USD/CAD is trading at 1.3382, down 0.13%. We could see stronger movement from the Canadian dollar in the North American session, with the release of the […]