WTI oil is consolidating under new 2023 high, on track for a quarterly gains of nearly 30%
WTI oil price is moving within a tight range but holding traction on Friday following a pullback from new 2023 high ($95.00) on Thursday (down 2% for the day).
Overall structure remains bullish, with tight supply on Saudi Arabia and…
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AUDUSD – recovery accelerates on month / quarter end profit taking
AUDUSD extends strong bounce from new 2023 low (0.6331) into second straight day, driven by profit-taking at the end of the month / quarter.
Slight change in Fed’s narrative on monetary policy from hawkish stance to unclear signals…
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Gold is trading at six-month low after losing 3% in past four sessions
Gold price fell to the lowest in over six months on Thursday, extending steep fall into fourth consecutive day and generating a total loss of nearly 3% in just four days.
The metal came under increased pressure from growing expectations…
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Dollar index – partial profit-taking seen as positioning for fresh advance
The dollar index eases from new 2023 high (106.52) on Thursday, as bulls faced headwinds from overbought condition on daily chart and top of thickening weekly Ichimoku cloud (106.61).
The greenback remains well supported by better than…
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EURGBP lost ground after multiple rejection under key 200DMA barrier
EURGBP extends pullback from new multi-week high (0.8705) into second consecutive day, adding to initial warning of stall and formation of reversal pattern on daily chart.
Larger bulls faced a multiple rejection under pivotal 200DMA…
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USDJPY -psychological 150 barrier under increased pressure
USDJPY edged lower from new multi-month high in early Thursday’s trading, as bulls approached psychological 150 barrier and started to face headwinds.
Overbough daily studies and possibility that Japanese officials may intervene around…
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EURUSD – further weakness expected after limited consolidation
Bears are taking a breather just above 2023 low (1.0483) following steep bearish acceleration in past six days (the pair was down 1.7%), as daily indicators fell deep in oversold territory, prompting traders to collect some profits.…
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Gold extends steep fall below $1900
Gold price extends fresh bearish acceleration into third straight day and dipped below $1900 level, hitting the lowest in five weeks on Wednesday.
Bears cracked key near-term support at $1884 (Aug 17/21 lows) with sustained break lower…
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Crude oil prices rise on dominating supply factor
WTI oil price rose around $1.5 a barrel in European trading on Wednesday, as concerns about tight supply ahead of winter season sidelined worries of weaker demand on economic slowdown in the US and Europe.
Signals that the US economy is…
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EURGBP in extended sideways mode and looks for fresh direction signal
EURGBP keeps bullish stance but a multiple failure under 200DMA (0.8709) warn that bulls face strong headwinds and keep larger rally on hold.
The price has stayed below 200DMA indicator since early May that adds to signals of stall, as…
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