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Gold surged to the highest in seven weeks ($3444) overnight following Israel’s attack on Iran that fueled safe haven demand and quickly lifted the price. Break of $3400 zone (former strong resistances that reverted to supports) further brightened near-term outlook with weekly close above these levels to confirm bullish signal and keep focus on key […]

The post XAU/USD: Gold May Rise Above $3,500, If Geopolitical Situation Escalates Further appeared first on Action Forex.

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10/10/2024

Gold Wave Analysis

Gold broke the support zone Likely to fall support level 2580.00 Gold recently broke the support zone set between the support level 2625.00 (which stopped wave A at the end of September), the support trendline of the daily up channel from September and the 50% Fibonacci correction of the upward impulse from last month. The […]
29/12/2023

USD/JPY Turns Red And At Risk of More Losses

Key Highlights USD/JPY started a major decline below the 145.00 support. A major bearish trend line is forming with resistance near 142.10 on the 4-hour chart. EUR/USD surged above the 1.1040 and 1.1080 levels. GBP/USD retested the 1.2820 resistance, where the bears emerged. USD/JPY Technical Analysis The US Dollar failed to remain stable above the […]
18/11/2024

EUR/USD Eyes Recovery, But Gains May Be Capped

Key Highlights EUR/USD extended losses and tested the 1.0500 support. A key bearish trend line is forming with resistance at 1.0585 on the 4-hour chart. GBP/USD also extended losses and traded below the 1.2720 support. Oil is consolidating losing and trading near the $67.25 zone. EUR/USD Technical Analysis The Euro started a fresh decline below […]