USDJPY – initial reversal signal needs confirmation on extension above 140
The USDJPY is consolidating above rising daily cloud in early Monday, trying to capitalize from initial reversal signals (strong rejection above converged 100/200DMA’s / two week downtrend contained by weekly cloud top / Friday’s bullish…
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EURUSD – bulls hold grip but strongly overbought conditions warn
The Euro remains at the front foot in early Monday trading, although strongly overbought daily studies and Friday’s Doji candle, suggest that the uptrend may pause.
Strong bullish acceleration in past seven days also faced headwinds from…
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Cable is taking a breather under new multi-month high after weekly advance of over 2%
Cable is consolidating under new 15-month high (1.3141) on Friday, as bulls started to lose traction after advancing 7.5% this week.
A pause after six straight days of uninterrupted rally looks like logical scenario, as traders look for…
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USDJPY bears lost traction on approach to 200DMA
The USDJPY bounces on Friday, registering significant gains for the first time in seven days and generating initial signal of correction.
Pullback from new 2023 high (145.06), which accelerated after dollar came under increased pressure…
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Dollar index breaks psychological 100 support and hits the lowest in over one year
The dollar index holds firmly in red for the seventh consecutive day and on track for the biggest weekly loss in thirteen months, deflated by expectations that the Fed may end its tightening cycle in the near future and additionally…
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EURUSD – bulls crack key Fibo barrier
The Euro keeps firm tone and cracked key Fibo barrier at 1.1232 (61.8% of 1.2266/0.9535 downtrend), signaling further advance.
Strong bullish signal was generated on break of 200WMA (1.1181) and probe through 1.1232 pivot, which will…
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AUDUSD – bulls are taking a breather under key resistance zone
Bulls are pausing just under key resistance zone at 0.6890/0.6900/15 (Fibo 61.8% of 0.7157/0.6458 / June 16 peak / weekly cloud top) which was cracked after sharp bullish acceleration in past two days (the pair was up 3.1%).
Markets…
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Crude oil to rise further on tightening oil market and brighter demand outlook
WTI oil price rose to new 2 ½ month high, after a brief consolidation around pivotal Fibo barrier at $75.92 (61.8% retracement of $83.51/$63.63 descend).
Bulls for now ignore overbought daily studies and resume rally, in which the…
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Gold extends advance on weakening dollar / hopes Fed rate hikes nearing end
Gold keeps firm tone on Thursday and extends Wednesday’s 1.3% advance, sparked by softer than expected US June inflation.
Fresh bulls cracked pivotal resistance zone at $1961/64 (55DMA / Fibo 38.2% of $2080/$1892), with firm break here…
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GBPUSD rises above psychological 1.30 barrier following better than expected UK GDP data
Cable surged through psychological 1.30 barrier on Thursday and hit the highest since mid-April 2022, after receiving fresh boost from better than expected UK May GDP data.
UK economy contracted by 0.1% in May, beating expectations for…
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