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Key Highlights Gold started a fresh increase and traded to a new record high above $3,350. The current price on the 4-hour chart is still bullish above $3,250. EUR/USD is eyeing more gains above the 1.1420 resistance zone. WTI Crude Oil prices could start a recovery wave if there is a move above the $64.00 […]

The post Gold’s Record-Breaking Run—Trade Tensions Light the Fire appeared first on Action Forex.

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Gold Wave Analysis

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Focus Shifts to Frankfurt Where We Expect ECB to Cut

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04/04/2024

EURUSD Wave Analysis

EURUSD reversed from key support level 1.0730 Likely to rise to resistance level 1.0860 EURUSD currency pair recently reversed up from the key support level 1.0730, which has been reversing the pair from the start of December, standing near the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from October […]
03/08/2024

Markets Weekly Outlook – Rising US Job Fears, Geopolitics in the Spotlight

US jobs data underwhelmed, triggering the SAHM rule, signaling a likely recession. The Magnificent 7 tech companies have lost nearly $1.75 trillion in market capitalization over the past 10 days. Rate cut bets for the US face significant revisions with recessionary fears weighing on global markets. Reserve Bank of Australia (RBA) next week. Will the […]
07/10/2024

Gold Found Buyers Once Again At The Blue Box Area

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the Gold. The rally from the 25 July 2024 low showed a higher high sequence & provided a short-term extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a […]