EURGBP resumes downtrend, falls rapidly to 2½-year low Oversold signals detected, price trades at the bottom of a channel EURGBP plummeted to a 2½-year low of 0.8316 but held above the support line of the almost one-year-old bearish channel, fueling hopes that the bulls could still find a footing. It is important to exercise caution […]
Gold retreats after unsuccessful break above 50-day SMA The price extends its structure of lower highs Momentum indicators turn bearish Gold had been in a steady recovery from its recent one-month low, which led to the price closing above its 50-day simple moving average (SMA) last Thursday. Despite the violation of that crucial hurdle, bullion reversed back […]
The post Gold Reverses Back Below 50-day SMA appeared first on Action Forex.
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