WTI oil opened with 25 pips gap higher on Monday and rallied to the highest level ($63.78) since 1 May, boosted by rising tensions in Persian Gulf and signals that OPEC+ group would probably maintain production cut. Though rhetoric from the US following last week’s attack on Saudi Arabia’s oil assets and Sunday’s rocket attack on Baghdad, increase…

The Australian dollar rallied in early Monday’s trading, boosted by unexpected election victory of country’s center-right coalition. The pair opened on Monday with gap-higher and advanced above 0.6900 barrier, recovering last week’s 1.8% fall. Recovery from new 4 ½ month low at 0.6864 broke above initial resistance at 0.6910 (5SMA and eyes more…

Disappointing news about the crash of Brexit talks between the UK’s two biggest political parties and rising pressure on PM May would step down, likely in June, further sores pound’s sentiment. Cable fell further on Friday and holding just above new low at 1.2736 (the lowest since mid-January), with bears establishing below broken key Fibo support…

The Australian dollar extends steep fall of this week to new four and a half month low on Friday, weighed by increasing odds for rate cut as early as June and rising fears of escalation of US/China trade conflict. The pair is on track for the biggest weekly fall since early Feb that adds to negative sentiment after bearish signal was generated on…

Downside risk increases as Euro extends weakness below trendline support (1.1180) and key Fibo point at 1.1169 (61.8% of 1.1111/1.1263), after double upside rejection at 30SMA (Wed / Thu). Weaker pound on fresh negative news regarding Brexit, drags the single currency, with stronger dollar adding pressure. Eurozone’s Apr CPI came in line with…

Cable holds firmly in red and extends weakness close to key support at 1.2773 (Fibo 61.8% of 1.2397/1.3381) on Friday. The pair is on track for the second consecutive weekly close in red and the biggest one-week fall in two months that adds to negative picture. Pessimism over Brexit as PM May will try again to pass her deal through the parliament…

The pair fell back to 109.50 zone (approx. the mid-point of this week’s range) on fresh safe-haven buying as markets fear an escalation of US/China trade tensions after China signaled a lack of interest in resuming trade talks with the US under current circumstances. Recovery attempts from week’s low at 109.02 (supported by formation of bear-trap…

The Aussie dollar bounces from new low at 0.6891 (the lowest since 3 Jan) in corrective action as daily stochastic reverses from oversold territory. Overall picture remains bearish on both, daily and weekly chart and favors further downside, as bears were boosted by Wednesday’s close below key Fibo support at 0.6931 (61.8% retracement of…