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Gold ($XAUUSD) has soared to a new all-time high, marking the launch of its next bullish phase. This powerful uptrend began on September 26, 2022, and is unfolding as a five-wave Elliott Wave pattern, a technical framework traders use to predict market movements. The first wave (I) climbed to 2081.82, showing strong momentum. Then, a […]

The post Gold Touches All-Time High. Overbought or Poised for More Upside? appeared first on Action Forex.

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25/04/2024

Pound Edges Higher After Soft US GDP

The British is in positive territory on Thursday. In the North American session, GBP/USD is trading at 1.2492, up 0.23%. US GDP slows to 1.6% Is the US economy finally slowing down? Recent key indicators, from nonfarm payrolls to consumer inflation have been stronger than expected, but the markets could hear the “thud” of today’s […]
07/12/2024

Bank of Canada to Cut Interest Rates Again by 50 Basis Points

We expect the Bank of Canada’s final policy decision of 2024 on Wednesday to be another 50 basis point interest rate cut—adding to a 50 bps cut in October and 125 bps in total cuts since June. Canada’s economic backdrop has yet to crumble in a way that would cause the BoC to panic, but […]
17/10/2024

GBPCAD Wave Analysis

GBPCAD reversed from resistance zone Likely to fall to support level 1.7750 GBPCAD currency pair recently reversed down from the key resistance zone between the strong resistance level 1.8085 (which stopped the previous impulse wave i) and the upper daily Bollinger Band. The downward reversal from this resistance zone created the well-formed daily Japanese candlesticks […]