Gold’s pull back from 2070.06 picks up momentum today. The break of 1960.83 minor support should confirm short term topping, after initial rejection by 2074.84 high. Deeper decline is now expected as long as 2008.87 minor resistance holds, towards 55 day EMA (now at 1882.52). The pull back from 2070.06 could either be a correction […]
The post Gold extends pull back, heading back to 55 day EMA appeared first on Action Forex.
Gold prices stabilised around 4,830 USD per ounce on Thursday following a sixth consecutive decline, marking the longest losing streak since late 2024. The market remains under pressure from the Federal Reserve’s hawkish stance, which Read more…
Key takeaways Medium-term downtrend confirmed: Gold (XAU/USD) broke below the $4,960 key support (50-day MA) with a sharp sell-off, invalidating the prior rally as a “dead cat bounce” and signalling the start of a multi-week Read more…
The S&P 500 (SPX) continues to correct the cycle that began from the April 7, 2025 low. The internal subdivision of this correction is unfolding as a double three Elliott Wave structure, which reflects a Read more…