Logo-color Logo-white

Gold eases from new all-time high ($3057) on Thursday, as strongly overbought daily studies prompted partial profit taking, while stronger dollar also pressured metal’s price. Gold price advanced strongly after a recent consolidation and broke the $3000 milestone, lifted by increased safe haven demand. Growing concerns about the magnitude of negative impact from trade war, […]

The post Gold: Limited Dips Seen as Positioning for Fresh Gains appeared first on Action Forex.

previous

EUR/USD: Bulls Lose Traction, Eye Key Supports at 1.0800 Zone

next

USDCHF: Diverging Policies from the Fed and SNB – What to Expect?

Read More

04/10/2024

Intraday Elliott Wave View on Gold (XAUUSD) Looking to Resume Bullish Trend

Short Term Elliott Wave View in Gold (XAUUSD) suggests that rally to 2685.58 ended wave 3. The metal then did a pullback in wave 4 with internal subdivision as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 2654.68 and wave (b) rally ended at 2677.86. The metal extended lower […]
19/01/2024

Sunset Market Commentary

Markets Markets received another dose of realism in the form of solid US economic data. US December housing data came in on the strong side of expectations. Building permits, seen as a leading indicator for the sector, rose by 1.9% m/m (1495k) vs 0.7% expected. Shovel-in-the-ground housing starts, the next step in the process, declined […]
03/06/2024

US: Manufacturing Slips Further into Contraction in May

The ISM Manufacturing Index slipped further into contractionary territory in May, dipping to 48.7 from 49.2 in April, disappointing expectations for a marginal gain. The contraction also became more broad based, with 55% of manufacturing GDP having contracted in May, up from 34% in April. Demand slowing was reflected by the new orders index dropping […]