Logo-color Logo-white

Gold jumped over 2% on Monday, lifted by weaker dollar and persisting uncertainty over US-China trade conflict that revived safe-haven demand. Strong bounce followed repeated failure to register clear break of strong support at $3228 (50% retracement of $2956/$3500 upleg / daily Kijun-sen). The metal’s price returned above $3300 mark and cracked important resistance at […]

The post Gold: Strong Bounce Generates Initial Reversal Signal appeared first on Action Forex.

previous

Sunset Market Commentary

next

ISM Services Up Slightly in April 

Read More

21/08/2024

Could Fed Chief Powell Finally Reveal His Hand at Jackson Hole?

The Jackson Hole Symposium will be held on August 22-24 Fed Chairman Powell speaks on Friday at 14.00 GMT Markets expect a dovish tone in support of a September rate cut Fed minutes and PMI surveys to set the scene Markets are gearing up for the Jackson Hole Symposium The much talked-about Jackson Hole Symposium […]
28/05/2024

Euro Area Inflation Unlikely to Change ECB’s Outlook

ECB June rate move looks like a done deal May inflation could open the door to a July rate cut Euro could benefit from a stronger CPI print German CPI on Wednesday, eurozone report on Friday at 09:00 GMT Busy calendar, inflation stands out With the market counting down to next week’s ECB meeting, the […]
21/08/2024

USDCHF Wave Analysis

USDCHF reversed from resistance area Likely to fall to support level 0.8500 USDCHF currency pair recently reversed down from the resistance area set between the resistance level 0.8735 (former monthly low from March), 20-day moving average and the 50% Fibonacci correction of the downward impulse from the start of July. The downward reversal from this […]