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Headlines on Thursday revealed that Israel may have violated the recent Gaza ceasefire just one day after it began, with reports of tactical military actions targeting areas not included in the agreement. Meanwhile, OPEC+ postponed its output policy meeting from Sunday to December 5, citing scheduling conflicts with Kuwait’s Gulf Cooperation Council meeting. Crude oil […]

The post Oil: Price Contracts as Dollar Tries to Recover appeared first on Action Forex.

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Elliott Wave View: US Dollar Index Turning Lower

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06/09/2024

Gold Wave Analysis

Gold reversed from support level 2475.00 Likely to rise to resistance level 2535.00 Gold recently reversed up from the support level 2475.00 (former monthly high from July, which has been reversing the price from August) standing near the 38.2% Fibonacci correction of the upward impulse C from the start of August. The upward reversal from […]
22/01/2024

Busy Week Ahead: Tech Earnings and Central Bank Meetings

Friday’s economic data was yet another proof of the diverging fortunes between the US economy and the rest of the developed world. In the morning, the UK announced that its retail sales slumped for the second straight year, fueling the worries of a mild recession in the UK this year. But in the afternoon, Michigan’s […]
02/12/2023

Will RBA Maintain Tightening Bias After CPI Miss?

RBA is expected to hold rates in December after hiking last month But will it signal future hikes or will it turn more cautious? After soft CPI, RBA’s decision on Tuesday, 3:30 GMT, poses a risk for the aussie New governor has been beating the hawkish drum The Australian economy has been gradually losing steam […]