WTI oil remains firmly in red and fell to nine-week low on Wednesday, signaling continuation of larger downtrend which paused for a brief consolidation in past three days. The recent decision of OPEC + cartel to further increase output was one of key oil drivers, along with International Energy Agency’s latest report that showed expectations for…

Cable continues to trend higher and nears key near-term barriers at 1.3588 (July 24 high) and 1.3618 (daily Ichimoku cloud top). Weaker dollar on fresh signals of Fed rate cuts (the first cut to be expected in September) and latest data from UK labor sector, which do not urge BoE for immediate rate cuts, provided good support for sterling in…

Gold remains firmly in red (down 1.2% until early US trading on Monday), as traders collected profits after repeated rejection at pivotal $3400 resistance zone (psychological / upper boundary of daily triangle pattern). Fresh weakness broke below the triangle’s lower boundary ($3360) shifting near term focus lower, with close below triangle…

BTCUSD surged through psychological 120K barrier and hit the highest in almost one month (122300) on Monday. Recovery leg from 112K zone (higher base / the bottom of pullback from new record high) has strongly accelerated in past two sessions and retraced over 76.4% of 123261/111871 pullback), generating signal that corrective phase might be…

Gold price rose on Thursday morning as new packages of increased US import tariffs took effect, adding to high global uncertainty and prompting investors into safety. Fresh rise cracked strong resistances at $3400 zone (Fibo 76.4% of $3438/$3268 / psychological / upper triangle boundary) but failed to break higher on first attempt. As…

EURUSD jumped on Wednesday, extending post-NFP recovery leg which paused in past two days after sharp rally last Friday. Bulls resumed after consolidation, to hit one-week high and marking almost 61.8% retracement of 1.1788/1.1391 drop, as dollar lost traction on growing signals of more dovish stance from Fed amid unexpected weakness in the US…

Cable dipped during early European trading on Wednesday, deflated by weak UK data (July Construction PMI fell to the lowest since 2020), although the price holds within the range that extends into third consecutive day (long-legged Doji candles point to strong near-term indecision). Overall technical picture remains negative (daily MA’s are in…

WTI oil extends steep fall into third consecutive day to almost fully retrace last week’s $64.99/$70.50 rally. Oil came under pressure after repeated upside failure at $70 zone (psychological / daily Ichimoku cloud top), with latest decision of OPEC+ to further boost production by 547K bpd in September adding pressure and so far offsetting…