Cable edged higher on Friday on fresh optimism over Brexit, pausing after Thursday’s 0.5% drop, but near-term risk remains for deeper correction before bulls regain control. Wednesday’s massive advance stalled at key Fibo barrier at 1.3173 and profit-taking pushed the pair lower. More positive tones coming from Brexit talks, keep the larger…

Cable eases on Thursday as traders collect profits from Wednesday’s 1.56% advance (the biggest one-day rally since 27 Mar) when pound rose to the highest in over seven weeks against the dollar. Sterling surged on fresh optimism over news about continuation of Brexit talks and generated bullish signals on close above daily cloud top and former high…

The pair fell to one-month low on Wednesday, on track for the biggest daily loss since 28 Aug as growing optimism over US stimulus talks boosts risk appetite and further deflates the dollar. Fresh bearish acceleration surged through pivotal supports at 105.00/05 zone (round-figure / 14/15 Oct lows) and cracked important technical support at…

Cable jumped to one week high at 1.3064 on Wednesday, after European Union’s Brexit negotiator expressed optimism, saying that trade deal with Britain is ‘within reach’. Barnier said that both sides are constructive and willing to compromise in attempts to make progress in stalled talks, hoping that they will be able to overcome the obstacles and…

The dollar index falls to one-month low on Tuesday as fresh optimism over US stimulus talks boost risk appetite and increase pressure at the greenback. Fresh weakness emerged after bulls got trapped above 20DMA last Thu/Fri and accelerated today, probing through previous low at 92.99 (9 Oct) and pressuring key support at 92.88 (base of thick daily…

The Euro accelerated higher on Tuesday (up 0.5% since opening in Asia), boosted by fresh risk sentiment on growing hopes for possible deal in US stimulus package talks. Bulls extend strong rally into third day and broke above important barrier at  1.1811 (Fibo 50% of 1.2011/1.1612), neutralizing downside risk which arose from formation of…

Cable is standing at the back foot in early European trading on Tuesday deflated fresh risk aversion on fading hopes that US new stimulus package will be agreed before Nov 3 election and Brexit talks in limbo. Monday’s strong rejection above psychological 1.30 barrier and repeated close below daily cloud base, although the cloud is narrowing and…

The Australian dollar accelerated lower in Asia on Tuesday (down 0.5% for the session) as minutes of RBA most recent meeting showed that the central bank discussed further monetary easing through cutting interest rate towards zero and buying longer-dated government bonds. Fading risk mode on record coronavirus infections in the Europe and stalled…