WTI OIL WTI future contract is consolidating above cracked $20 level after hitting new 18-year low on Monday. Larger bears are pausing ahead of strong psychological support with limited recovery being so far capped by falling 5DMA ($22.10) which guards more significant resistance provided by descending 10DMA ($23.07). Overall picture remains…

GBPUSD Cable extended pullback on Tuesday after last week’s strong rally repeatedly capped by weekly cloud base, but weakness was tempered by better than expected data. UK Q4 current account deficit narrowed from the previous three-month period and also came below forecasts, reducing pressure on pound from month / Q1 end strong dollar demand.…

The Euro fell on Tuesday, extending the weakness of the previous day, pressured by increased demand for the US dollar at the end of month / quarter. Monday’s bearish inside day was initial negative signal which materialized on today’s bearish acceleration through strong supports at 1.1008/00 (daily cloud top / psychological) and other pivot at…

The dollar index edged higher on Monday as bears pause after nearly 5% fall last week (the biggest weekly loss since 2009) on rising uncertainty over prolonged global lockdown on coronavirus pandemic. Fresh upside action could be seen as positioning for further weakness as last Friday’s trading penetrated daily cloud and closed within the cloud,…

WTI future contract opened with gap-lower on Monday and cracked psychological $20 support to hit new 18-year low at $19.90. Mounting fears that global shutdown on coronavirus could last months and further slash demand for oil. Low oil prices hurt many oil firms as it becomes unprofitable to remain active, as storage facilities are full and demand…

Brief recovery in Asia after Thu/Fri strong fall was capped by broken 200DMA (108.30) and fresh weakness probes below key supports at 107.69 (Fibo 38.2% of 101.18/111.71 upleg) and 107.44 (weekly cloud base. Strong loss of momentum on daily chart supports scenario but oversold stochastic warns of extended consolidation in the area of strong…

Cable edges lower on Monday following last week’s massive rally (6.6%) as bulls face headwinds from weekly cloud despite penetration and weekly close within the cloud. Overbought stochastic adds to consolidation signals but the action remains underpinned by massive weekly bullish candle and so far holding above solid support at 1.2304 (daily…

AUDUSD The Australian dollar holds in red in early Monday’s trading, with minor reaction on government’s A$130 billion job-saving package. The action remains capped by falling 20 DMA (6200) with overbought daily stochastic suggesting consolidation. On the other side, momentum continues to rise and supporting the advance, with shallow…