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Gold remains in trading range in short-term Price rebounds off 1,984 MACD and RSI suggest buying interest Gold is moving higher again today, recording its third consecutive green candle after bouncing off the 1,984 support level. It is currently testing the 38.2% Fibonacci retracement level of the up leg from 1,810 to 2,145 at 2,016 […]

The post Gold Tests Tricky Area Within 38.2% Fibonacci appeared first on Action Forex.

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03/10/2024

EURUSD & GBPUSD Breakdown

The US Dollar (USD) continued to strengthen against other major currencies on Tuesday, reaching its highest level in nearly two weeks, climbing above 101.00. Investors are keeping an eye on important data, such as the European unemployment rate and US employment numbers from ADP, along with speeches from key Federal Reserve officials. The USD got […]
05/01/2024

USDCHF Sustains Weekly Gains Ahead of Jobs Data

USDCHF’s rebound is not convincing yet  A continuation above 20-SMA could boost sentiment US nonfarm payrolls report due at 13:30 GMT USDCHF is set to close the first week of the year within the positive area, having secured a strong foothold around the support-turned-resistance trendline from March 2023 at 0.8400 following the flash drop to an almost […]
18/10/2024

XAU/USD Outlook: Gold Hits New Historical High Above Psychological $2700 Level

Gold cracked psychological $2700 barrier and hit new historical high on Friday morning. Looser monetary policy conditions continue to support the price, along with growing nervousness over US election, with the latest threats of further escalation of the war in the Middle East, sparking increased demand for safe haven bullion. Fresh rise of gold price […]