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Gold delved deeper into the territory of all-time highs during the week, reaching a local top above $3350 per troy ounce on the spot market, representing a more than 4% gain from the start of the week. The price later retreated to the $3300 area. Gold has been on the offensive since touching the 50-day […]

The post Gold: Epic Rally appeared first on Action Forex.

EURCAD: ⬇️ Sell EURCAD reversed from long-term resistance level 1.5840 Likely to fall to support level 1.5400 EURCAD currency pair recently reversed down from the long-term resistance level 1.5840 (which has been reversing the price from the start of 2020) standing close to the upper daily Bollinger Band and the resistance trendline of the weekly […]

The post EURCAD Wave Analysis appeared first on Action Forex.

CADJPY: ⬆️ Buy CADJPY reversed from key support level 102.00 Likely to rise to the resistance level 104.00 CADJPY currency pair recently reversed up from the key support level 102.00 (which has been reversing the price since August of 2024) standing close to the lower daily Bollinger Band. The upward reversal from this support level […]

The post CADJPY Wave Analysis appeared first on Action Forex.

The IDC is just out with some smartphone stats:

• China smartphone shipments up 3.3% in Q1 (solid sign of growth)
• Huawei China sales +10%
• Apple China sales -9%
• Xiaomi was the top vendor with 18.6% share, followed by Huawei and Oppo with 18% and 15.7%, respectively

An iPhone was a status symbol for years in China but it appears the consumer is shifting to domestic preference.

Meanwhile, tariffs on China threaten to crush Apple’s margins in the United States.

This article was written by Adam Button at www.forexlive.com.

• Japan’s guidelines in managing its foreign reserves is to avoid causing volatility in markets
• Hard to say how US long-term interest rates would move as they will be driven by various factors

USD/JPY is quiet so far in Asia-Pacific trading, down 4 pips to 142.37.

This article was written by Adam Button at www.forexlive.com.