Brent oil price rose around 2% in early Monday trading (on track for the first daily gain after being eight days in red), following fresh escalation in the Middle East (escalation in Lebanon and fresh US attack on Iran and their subsequent response) that soured the sentiment. Strongly oversold daily studies, following heavy losses in past two…

Gold price rises for the second consecutive day, as the latest reports of an extension of ceasefire in the Middle East (although with pending approval from President Trump), brightened near-term outlook. Thursday’s strong downside rejection left bullish daily candle with long tail (initial reversal signal), with failure to break lower…

BTCUSD fell to the lowest in six weeks on Thursday, with daily loss of over 3% seen on acceleration of the bear-leg that extends into third consecutive day. Fresh rise in oil prices on renewed tensions in the Middle East, was mainly behind today’s drop, which cracked 100DMA (73017) and pressured next significant support at 72221, provided by the…

Brent oil fell over 5% on Wednesday on fresh optimism about potential end of US-Iran war and re-opening of Hormuz strait. The price fell to the lowest in over one month, adding to growing bearish signals after the action was capped by $100 level (broken psychological support that reverted to strong resistance) for the third consecutive day.…

Gold holds in red for the second consecutive day on Wednesday and pressure the floor of seven-day range ($4453), also moving into lower part of short-term bear-channel (off $4889, mid-Apr peak). Fading hopes of a peace deal in the Middle East revive inflation concerns and hawkishness in the interest rate outlook that adds pressure on the yellow…

The Euro edged higher on Wednesday morning but still holds within a narrow range that extends into third straight day and below strong technical resistances. Lack of clearer signals (geopolitical / macroeconomic) keeps near term action in quiet mode, though with persistent worries of worsening conditions that would keep focus shifted from…

USDJPY jumped on Tuesday as short-lived risk appetite was hit by renewed tensions in the Middle East that pushed the price to the upper side of a narrow near term range (158.80/159.35). The action remains well supported by thick daily Ichimoku cloud (top of the cloud lays at 158.85), as well as bullish daily studies (strengthening positive…

The dollar fell across the board at the start of the week, pressured by renewed risk sentiment on growing hopes of a deal between the US and Iran to reopen Hormuz strait and prevent deeper crisis on prolonged supply shortage. Although the dollar opened with gap lower and dipped to 10-day low, the price remains within the near-term congestion…