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Gold pulls back after sharp rally to all-time high. Bearish candlestick pattern emerges; overbought signals confirmed. Sellers eye a close below 3,290 to target lower levels. Gold opened Wednesday’s session with a downside gap, extending its retreat from the record high of 3,499. The formation of a bearish shooting star on the weekly chart increases […]

The post Gold Takes a Breather After Another Milestone appeared first on Action Forex.

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30/08/2024

Dow Jones index Wave Analysis

Dow Jones index broke resistance level 41280.00 Likely to rise to resistance level 42000.00 Dow Jones index continues to rise after the earlier breakup of the pivotal resistance level 41280.00 (which stopped the previous waves I, b and iii, as can be seen below). The breakout of the resistance level 41280.00 continues the active impulse […]
09/04/2024

EUR/USD: Holds in Extended Sideways Mode, Initial Negative Signals Developing on Daily Chart

Near-term action remains in a directional mode and ranging between converged 55/200DMA’s (1.0831) and 100DMA (1.0871). Strong rejections in both directions in past few sessions add to neutral stance, with the pair looking for fresh direction signals. Daily studies are mixed, though 14-d momentum bearish divergence and overbought stochastic seen as warning. Expect initial bearish […]
25/01/2024

XAUUSD: Traders Await Breakout

Gold prices, currently near $2,030, saw a modest decrease of 1% over the past week and a 2% dip since the start of 2024. Meanwhile, silver surpassed $22 per ounce, experiencing a 4% drop in the week and a 6.5% decline in the year so far. Upcoming scrutiny of economic data, particularly the Q4 US […]