Technical Outlook

Bulls take a breather after strong rally and expected to remain in play while above 1.30 support zone

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…
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Dollar index hits one-month low on fresh risk sentiment

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…
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Cable loses traction on stalled Brexit talks

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…
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Aussie extends fall as RBA discusses further easing

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…
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