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Gold has been under consistent selling pressure since the end of October, as investors take profits following a prolonged rally. This week alone, gold prices have fallen nearly 5%, marking the steepest weekly decline in almost three years. From its peak, the metal has now lost over $250 or approximately 9%, making this the most […]

The post A Heavy Gold: Investors Taking Profits appeared first on Action Forex.

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EUR/USD Eyes Recovery, But Gains May Be Capped

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15/03/2024

Is USDCAD Poised for Another Bullish Round?

USDCAD brings key resistance in focus after rebound Technical signals are encouraging, but a bullish outlook expected above 1.3600 USDCAD made a strong comeback on Thursday, surpassing its simple moving averages (SMAs) and breaching the 1.3500 level after encountering fresh buying around the familiar long-term line from November 2022. The 50% Fibonacci retracement of the […]
27/02/2024

EUR/USD: Bullish Bias Above 200-DMA, Daily Cloud Twist Also to Attract Bulls

The Euro keeps firm tone in early Tuesday and pressuring pivotal barriers at 1.0865/88 zone (Fibo 38.2% of 1.1139/1.0695 fall / 55DMA / Feb 22 spike high). Fresh positive signal on Monday’s close above 200DMA (1.0825) which capped several attacks last week, added strength to recovery leg from 1.0695 (Feb 14 low) which emerged from […]
02/04/2024

EURJPY Wave Analysis

EURJPY reversed from resistance level 164.30 Likely to fall to support level 162.00 EURJPY currency pair recently reversed down from the resistance level 164.30, former multi month high from the middle of November. The resistance level 164.30 was strengthened by the upper daily Bollinger Band. EURJPY currency pair can be expected to fall further to […]