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…
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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…
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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…
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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…
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Near-term action looks for clearer direction signal as daily studies are mixed
Cable is standing at the front foot at the start of the week, though recovery attempts were so far limited.
Near-term action remains capped by the top of rising daily cloud for the third consecutive day, with strong upside rejection on…
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Larger bears to remain intact while key 1.0800 resistance zone caps recovery
The Euro edges higher in early Monday trading, generating initial bullish signal on formation of reversal pattern on daily chart, after Friday’s Doji candle signaled indecision.
Oversold daily studies and weaker dollar on growing…
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US dollar index – bulls are pausing after strong rally in past four days
The dollar index price edges lower on Friday, as bulls take a breather after strong acceleration in past four days pushed the price to the highest in ten weeks.
The action was boosted by renewed expectations that the Fed may keep high…
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Oil is consolidating after strong fall on Thursday, near-term bias remains with bears
Oil price regained traction and edged higher on Friday morning, after falling over 3% previous day, following comments from Russian member of OPEC+ that the cartel is unlikely to further cut production at their meeting on June 4.…
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Turkish lira cracks psychological 20 support and hits new record low against dollar
The Turkish fell to new record low against US dollar in early Friday, on probe through psychological 20 level.
Fresh weakness came ahead of this weekend’s presidential election runoff, with President Erdogan so far being well ahead of…
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AUDUSD hits six-month low after break of key supports
Australian dollar remains in a steep fall for the third consecutive day, driven by rising US dollar on safe haven buying / hawkish Fed and higher than expected estimation for the US Q1 GDP.
The Aussie fell to the lowest in more than six…
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