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Markets US President Trump’s latest salvo of tariffs left global markets largely unfazed. It suggests they are either calling his bluff (having Canada and Mexico in mind) or are just tired already of running after each and every POTUS quote that’s hitting the screen. Trump this time targeted steel and aluminum, threatening a 25% levy […]

The post Sunset Market Commentary appeared first on Action Forex.

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Gold (XAU/USD) Outlook: $3000/oz Target Possible as Safe Haven Demand Rises

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05/01/2024

Gold Price Corrects Gains While Crude Oil Price Aims Higher

Gold price is correcting lower from the $2,088 resistance. Crude oil price is rising and it could climb further higher toward the $75.90 resistance. Important Takeaways for Gold and Oil Prices Analysis Today Gold price failed to clear the $2,088 resistance and corrected lower against the US Dollar. A key contracting triangle is forming with […]
08/05/2024

Elliott Wave Analysis on Dow Futures (YM) Favors Upside

Short Term Elliott Wave View in Dow Futures (YM) suggests the Index ended wave (4) correction at 37473. The Index has now turned higher in wave (5). However, it still needs to break above the previous wave (3) peak on 4.1.2024 at 40358 to rule out a double correction. Up from wave (4), wave ((i)) […]
10/09/2024

Analysis of GBP/USD Today: Bulls Face Challenges

UK labour market data was released today. According to Dow Jones Newswires: → Employment growth exceeded expectations, and unemployment benefit claims came in lower than forecast. ING analysts believe this supports the view that the Bank of England will cut interest rates more cautiously compared to the Federal Reserve. → Capital Economics analysts also suggest […]