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In focus today Today, in the euro area we receive data on consumer confidence for November. We have seen a strong upward trend the past year, which bodes well for consumption next year if it continues. In Sweden, we have a speech by Riksbank vice governor Per Jansson at 14:45 about the economic situation. According […]

The post Euro Area Consumer Confidence Out Today appeared first on Action Forex.

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Elliott Wave View: Gold (XAUUSD) Starts Next Leg Higher

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06/11/2024

Bearish Scenario on AUD Pairs

The AUDUSD pair saw a sharp drop of over 130 pips today, mainly due to increased demand for the US Dollar (USD). The USD Index (DXY) surged to a four-month high after exit polls from the US presidential election indicated that Republican nominee Donald Trump was leading the race. Additionally, projections that Republicans could gain […]
08/01/2024

Gold Meets Uptrend Line in Negative Mode

Gold eases beneath 20-day SMA MACD and stochastic indicate more losses Gold is challenging the medium-term ascending trend line near 2,030 after the sell-off that started from 2,088. The crucial support level for traders to have in mind is the 38.2% Fibonacci retracement of the upward wave from 1,810 to 2,145 at 2,016, where the […]
14/03/2024

AUDJPY Wave Analysis

AUDJPY reversed from key support level 97.20 Likely to rise to resistance level 98.50 AUDJPY currency pair recently reversed up from the key support level 97.20 (which stopped the previous minor corrections iv and a, as can be seen below) coinciding with the lower daily Bollinger Band. The support level 97.20 was strengthened by the […]