EURUSD – bears are regaining traction after brief recovery
EURUSD accelerated lower in early Monday trading, generating initial signal that two-day recovery is likely over, and larger bears are regaining control.
The notion is supported by the long shadow of Friday’s daily candle, which…
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Gold price at the lowest in nearly seven months ahead of key US labor data
Gold keeps negative tone at the beginning of the week and fell to new lowest in almost seven months ($1839) in early European trading on Monday.
The metal extends steep fall into sixth straight day after registering weekly loss of 4%…
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EURGBP regains ground after a shallow correction but 200DMA remains key obstacle
EURGBP regained ground on Friday and bounced from correction low (0.8630) completing the fourth (corrective) wave of five-wave cycle from 0.8492 (Aug 23 low).
The price is currently riding on the fifth wave, which should extend towards…
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GBPUSD – two-day recovery faces headwinds from falling 10DMA
Profit-taking on dollar longs at the end of Q3 lifts sterling for the second day, pushing the price to one-week high.
Slightly stronger UK economic growth in the second quarter, compared to Q1 and consensus, may boost optimism and add to…
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WTI oil is consolidating under new 2023 high, on track for a quarterly gains of nearly 30%
WTI oil price is moving within a tight range but holding traction on Friday following a pullback from new 2023 high ($95.00) on Thursday (down 2% for the day).
Overall structure remains bullish, with tight supply on Saudi Arabia and…
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AUDUSD – recovery accelerates on month / quarter end profit taking
AUDUSD extends strong bounce from new 2023 low (0.6331) into second straight day, driven by profit-taking at the end of the month / quarter.
Slight change in Fed’s narrative on monetary policy from hawkish stance to unclear signals…
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Gold is trading at six-month low after losing 3% in past four sessions
Gold price fell to the lowest in over six months on Thursday, extending steep fall into fourth consecutive day and generating a total loss of nearly 3% in just four days.
The metal came under increased pressure from growing expectations…
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Dollar index – partial profit-taking seen as positioning for fresh advance
The dollar index eases from new 2023 high (106.52) on Thursday, as bulls faced headwinds from overbought condition on daily chart and top of thickening weekly Ichimoku cloud (106.61).
The greenback remains well supported by better than…
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EURGBP lost ground after multiple rejection under key 200DMA barrier
EURGBP extends pullback from new multi-week high (0.8705) into second consecutive day, adding to initial warning of stall and formation of reversal pattern on daily chart.
Larger bulls faced a multiple rejection under pivotal 200DMA…
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USDJPY -psychological 150 barrier under increased pressure
USDJPY edged lower from new multi-month high in early Thursday’s trading, as bulls approached psychological 150 barrier and started to face headwinds.
Overbough daily studies and possibility that Japanese officials may intervene around…
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