Euro remains constructive ahead of US inflation data
The Euro keeps positive tone early Wednesday and extends recovery after Tuesday’s bounce generated initial signal on formation of bullish engulfing pattern on daily chart.
This generates an initial signal of a higher low at 1.0832 (low…
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Bitcoin rises above 30000 for the first time since June 2022
Bitcoin rose above psychological 30000 barrier on Tuesday, hitting the levels last traded in June 2022.
Fresh bullish acceleration extends into the second straight day, signaling an end of consolidation phase of past three weeks and…
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Dollar index is standing at the back foot ahead of US inflation report
The dollar index edges lower on Tuesday, following a brief recovery in past few sessions, as markets return to business after Easter break.
Bounce from new multi-week low at 101.07 (Apr 5) stalled at initial Fibo barrier at 102.20 (23.6%…
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China’s consumer and factory inflation slows further on weakening demand
China’s annualized consumer price index rose 0.7% in March, compared to 1.0% previous month and missed consensus for 1.0% rise, while monthly inflation was down by 0.3%, slightly better than 0.5% drop in February but well below forecast for…
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Extended pullback to mark a healthy correction while above 20DMA
Cable accelerates lower in thin volumes on Monday, extending pullback from 1.2525 top (Apr 4) into fourth straight day.
Drop below initial support provided by 10DMA (1.2395) and extension briefly below 1.2354 (Fibo 23.6% of…
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WTI Oil – narrow consolidation likely to precede fresh push higher
WTI oil price is holding in extended consolidation within $80.00/$81.00 range for the fifth straight day, after last Monday’s opening with gap higher of nearly 6%.
Bulls continue to hold strong gains, sparked by surprise decision by…
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EURUSD – bullish bias above 10DMA
The Euro remains constructive but holding within a narrow range for the third straight day, on Easter-holiday thinned market.
The price action continues to hold above rising 10DMA (1.0892), keeping bullish bias for retest of last week’s…
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USDJPY – more work at the upside needed to strengthen bullish structure
The USDJPY keeps positive tone for the third consecutive day, as improved sentiment and solid US jobs data underpin dollar.
Fresh extension in early Monday penetrated thick daily Ichimoku cloud (cloud base lays at 132.15) and cracked…
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US labor data possible scenarios
The US labor report, the last key release ahead of US Federal Reserve monetary policy meeting in early May, will be closely watched by the central bank, for more clues about their next steps.
After the shockwaves from the largest bank…
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Euro remains constructive ahead of US labor data
The Euro started to gain traction in early US trading on Thursday, following a limited dip from new two-month high on Wednesday.
Overall picture remains bullish as the single currency benefited from weaker dollar, after downbeat US data…
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