Bears hold grip ahead of EU inflation report
The Euro remains at the back foot in early Thursday despite Wednesday’s strong downside rejection and signal of bear-trap formation on daily chart, as well as constructive signals from daily chart (fading bearish momentum / north-heading…
Read More...
Read More...
Turkish lira remains in a free fall after elections
The USDTRY is holding in a sharp post-election bullish acceleration for the second consecutive day, hitting a series of new record highs, with the last one at 20.74 zone, posted on Wednesday, after a gap higher opening.
Lira’s sentiment…
Read More...
Read More...
Firm break of psychological 1.07 support to open way for further weakness
The Euro came under renewed pressure and fell to new nine-week low on Wednesday, bringing larger bears back to play after brief consolidation above 1.07 support.
Fresh weakness so far shapes Wednesday’s action in large bearish candle,…
Read More...
Read More...
Dollar index rises on fresh hawkish signals from Fed; US NFP in focus
The dollar index hit new highest in two and a half months following fresh acceleration higher on Wednesday, sparked by renewed hawkishness from Fed.
Comments that there are no significant reasons for the central bank to pause its rate…
Read More...
Read More...
Aussie dollar under increased pressure from weak China’s manufacturing data
Australian dollar fell to new multi-month low in early Wednesday, after coming under increased pressure from risk aversion and slowdown in Chinese factory activity.
China’s manufacturing PMI fell to 48.8 in May vs 49.2 contraction in…
Read More...
Read More...
Yen gains traction but traders remain cautious ahead of US labor report
The USDJPY dipped below 140 mark on Tuesday, adding to reversal signals which are developing on daily chart.
Pullback from new 2023 peak (140.93) comes after Doji candle on Monday showed indecision, signaling that larger bulls were…
Read More...
Read More...
Oil price tumbles on fading risk sentiment
Oil fell sharply on Tuesday, losing almost 4% until early US session, as risk sentiment soured on fresh concerns about the US debt ceiling deal, while supply outlook is unclear due to mixed messages from world major oil producers, just days…
Read More...
Read More...
Violation of psychological 1.07 support signals bearish continuation
Probe through psychological 1.07 support in early Tuesday adds to negative signals as larger bears off 2023 high (1.1095) resume after hesitating at 1.07 level in past two days.
Daily studies remain in full bearish setup and maintain…
Read More...
Read More...
Near-term directionless mode extends
Gold is trading in a narrow-range sideways mode for the second straight day, hovering above new multi-week low and nearby trendline support ($1936).
Metal’s price is stuck between two opposite forces – optimism about eventual deal in…
Read More...
Read More...
Bulls started to lose traction on strongly overbought studies / weaker dollar
The USDJPY eases from new over six-month high on Monday, as strongly overbought conditions on daily chart prompted traders to start collecting profits.
The dollar started to lose traction after rallying for three consecutive weeks and…
Read More...
Read More...