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Gold prices rebounded, crossing 2,620 USD per troy ounce on Tuesday, as the US dollar weakened, and investors sought clarity on the Federal Reserve’s monetary policy direction. The likelihood of a Fed rate cut in December currently stands at 59%, reflecting a slight decline from previous days. Market participants also closely monitor potential cabinet picks […]

The post Gold Rebounds Amid USD Weakness and Geopolitical Uncertainties appeared first on Action Forex.

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30/08/2024

EURUSD Wave Analysis

EURUSD reversed from long-term resistance level 1.1150 Likely to fall to support level 1.1000 EURUSD currency pair recently reversed down from the major long-term resistance level 1.1150 (which has been reversing the price from the start of 2022). The resistance level 1.1150 was strengthened by the upper weekly Bollinger Band and by the 61.8% Fibonacci […]
02/05/2024

Currency Markets an Ocean of Calm

Markets US Treasury yields ease a few more bps in the wake of yesterday’s FOMC policy meeting. Markets were bracing for a hawkish surprise from chair Powell following a string of higher-than-expected inflation readings and ongoing economic resilience. Its absence pushed rates up to 7 bps lower at the front with additional losses of some […]
05/09/2024

EUR/USD Eyes Fresh Increase, USD/JPY Trims Gains

EUR/USD started a fresh decline from 1.1200. USD/JPY is correcting gains and might test the 144.15 support in the near term. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline below the 1.1150 support. There is a key bearish trend line forming with resistance at 1.1055 on the hourly chart […]