Cable extends weakness in the US session on Friday after being hit by weak US retail sales data that added to expectations of rate cut at the end of rge month’s BoE policy meeting, with additional pressure from upbeat US housing data (housing starts Dec 16.9% vs 2.6% prev, the highest in 13 years) that inflated dollar. Fresh weakness tests again…

The pair advances strongly on Friday after US-China trade deal provided relief and boosted appetite for riskier assets. Reversal pattern is forming on daily chart after Thursday’s action was strongly rejected at the downside and Friday’s rally is about to complete the pattern. Thursday’s daily candle with long tail underpins the action,…

The Australian dollar regained traction and advanced towards multi-day range tops, following strong upside rejection on Thursday after the price spiked to 0.6933 but subsequently reversed and closed in the middle of the range. Solid Chinese data, released overnight signal that the pressure on world’s second biggest economy start to fade that…

The Euro stands at the back foot in early Friday’s trading and returns below 200DMA (1.1135), adding to negative signal, generated on Thursday’s strong upside rejection which resulted in bearish daily candle with long upper shadow that hints formation of bull-trap pattern on daily chart. Recovery rally from 1.1084 (10 Jan low) lost traction and…

Cable ticked higher in early Friday’s trading and hit one-week high (1.3099) in extension of rally in past three days ahead of release of UK retail sales data. Fresh recovery is underpinned by rising daily cloud which contained pullback from 1.3284 (31 Dec high) and probes above important 200WMA (1.3066) with weekly close above required to…

WTI oil price bounced on Thursday after triple failure to clear 200DMA ($57.70) support. Initial reversal signal is forming on daily chart after price action in past two days ended in Doji candles and subsequent advance. Near-term action is also underpinned by rising daily cloud which increases risk of reversal. Daily stochastic is on…

The Australian dollar advanced on Thursday and hit the highest since 7 Jan, in attempts to eventually break above three-day congestion, which was signaled by double Doji candles. Strong risk sentiment after US-China trade deal was signed, boosted Aussie for probe through pivotal barrier at 0.6919 (Fibo 38.2% of 0.7032/0.6849 / 20DMA / top of…

Turkish lira rose against US dollar after CBRT surprised markets by 0.75% rate cut to 11.25% vs widely expected half percent easing. The central bank said that current policy stance remains consistent as inflation outlook continues to improve. Rate cut is expected to support lira, also boosted by strong risk mode in the markets. The USDTRY’s…