Cable rose above 1.29 mark on weaker greenback after US data and the latest Brexit Party news and holding firmly above 20DMA (1.2872) that generates initial bullish signal. Fresh advance pressures pivotal barriers at 1.2920 zone (Fibo 61.8% of 1.3012/1.2768 / bear-trendline off 1.3012 peak / base of thin daily cloud), close above which would…

WTI oil price stands at the front foot on Friday and accelerated above $57 mark on weaker dollar after US data. Optimism that the OPEC+ group will maintain its agreement for oil supply cut and fresh hopes for US/China trade deal, keep the oil prices inflated. Daily chart shows near-term price action congested between 200DMA ($57.44), following…

Bears are taking a breather after Thursday’s 0.8% fall which marked the fifth consecutive day in red and was contained by key Fibo support at 0.6769 (61.8% of 0.6670/0.6929). Optimistic comments from White House economic advisor about constructive talks between the US and China were offset by comments that President Trump is not ready to sign the…

The pair regained traction on Friday and moved higher after holding in red for five consecutive days. Pullback from double-top at 109.48 was contained by rising daily Kijun-sen and fresh optimism on positive signals from US/China trade talks inflated dollar. Larger uptrend off 104.44 (26 Aug low) is still in play, despite Thursday’s dip and…

The Euro is holding above 1.10 mark in early Friday’s trading but attempts to extend Thursday’s recovery rally lack strength and were so far capped by broken Fibo 50% barrier at 1.1029. Strong downside rejection under key Fibo support (61.8% of 1.0878/1.1179) at 1.0993 and subsequent rally, give initial signal of formation of bear trap pattern.…

Cable remains tall in early Friday’s trading and holds above broken 20DMA (1.2870), keeping firm near-term tone, following Thursday’s 0.25% rally and break above the tops of two-day congestion. Sterling was inflated on fresh optimism that Brexit deadlock will finally end if ruling Conservative party wins majority in 12 Dec election. Improved…

The Euro returns below 1.10 handle in early American trading on Thursday, following mild reaction on US weekly jobless claims that rose to five-month high and temporarily deflated dollar. Fresh weakness pressures again key Fibo support at 1.0993 (61.8% of 1.0878/1.1179), cracked earlier today, with close below here to generate bearish signal for…

The cross continues to move gradually lower after eventually breaking below the floor of month-long congestion and hit new low at 0.8550 (the lowest since 7 May). Strong bearish setup on daily/weekly chart studies signals further weakness, with strong supports at 0.8490/70 zone (Mar/May lows / monthly cloud top) coming in focus. The Euro showed…