The dollar index moves within a narrow consolidation above seven-week low and remains biased lower, following last week’s sharp fall (down 1.5% for the week). Near-term action was so far contained by daily cloud base / 50% retracement of 97.44/101.55 / 100DMA at 99.50 zone, which provides solid support. Daily studies are predominantly bearish…

Brent price holds within a narrow consolidation for the second straight day, following Tuesday’s massive losses (down over 6% for the day), but the action stays under psychological $80 barrier with upticks capped by 200DMA ($80.73) and the base of daily Ichimoku cloud. Fresh bears pause despite optimistic news about the latest US-Iran peace…

Gold price rose over 3% and hit the highest in nearly six weeks on Wednesday, lifted by fresh wave of optimism over a peace talks between the US and Iran, which eased inflation concerns and deflated the US dollar. This was so far the strongest market reaction in more than one month, as fresh rally violated range top ($4203), reinforced by the…

EURUSD remains constructive and holding above 1.1500 mark (round-figure / broken upper bull-channel boundary) for the fourth consecutive day, despite Monday’s pullback from new highest since June 17 that warned of potential stall of the latest recovery rally from 1.1353 to 1.1559. Bulls were so far unable to register a clear break above Fibo…

USDJPY edged higher from new lowest level in almost three months, following three-day sharp fall on coordinated intervention by Japan’s authorities and US central bank, to support weakening yen. Massive intervention buying lifted yen against US dollar (nearly 5%) and Euro (4.2%), with yen’s weekly gains of 3.9% vs dollar and 3.1% vs Euro. The…

Brent price fell $7 on gap-lower opening on Monday, deflated by the latest de-escalation in the Middle East after President Trump called off the latest planned attack on Iran and announced fresh round of peace talks starting today. Adding to renewed pressure on oil prices was decision of OPEC+ to increase production by 188.000 barrels per day…

USDJPY consolidates within a wide range on Friday after falling over 3% after intervention of Japan’s authorities, aiming to support weakening yen on Thursday. Friday’s action moves within daily Ichimoku cloud (158.49/160.59) shaped so far in a long-legged Doji, signaling that traders look for fresh direction signal after yen registered the…

Brent price rose for the second straight day on Thursday as fresh escalation of US / Iran conflict faded recent optimism of potential diplomatic initiative and revived fears about potential supply disruption. Oil price peaked at $93.33 during European session on Thursday, marking over 50% retracement of $101.97/$92.51 bear-leg, but recovery…