Gold has been trending lower since early March, generating a profound structure of lower highs and lower lows within a descending channel. Although the precious metal’s latest downleg came to a halt at the six-week low of 1,688, the broader bearish technical picture remains intact. The short-term oscillators currently suggest that near-term risks remain tilted […]
The post Gold Bounces Off 6-Week Low, Retains Bearish Bias appeared first on Action Forex.
Short Term Elliott Wave View in Oil (CL) suggests that cycle from 10.8.2024 high is in progress as a 5 waves impulse. Down from 10.8.2024 high, wave 1 ended at 66.72. Wave 2 rally ended Read more…
Key Highlights Gold started a fresh increase from the $2,535 support. It broke a major bearish trend line with resistance at $2,630 on the 4-hour chart. Oil prices are recovering and might rise toward the Read more…
Canadian Dollar and Mexican Peso faced sharp declines after US President-elect Donald Trump announced plans for aggressive trade measures targeting Canada, Mexico, and China. Trump stated that on January 20, as one of his first Read more…