Bears firmed on loss of $2000 but face significant supports at $1975/55
Gold price remains at the back foot on Wednesday and hit new two-week low, in extension of Tuesday’s 1.3% fall which also registered a daily close below psychological $2000 level for the first time since May 1.
The metal came under…
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Turkish lira at new record lows on growing political fears
The Turkish lira came under fresh pressure and hit a series on new record lows against US dollar, as sentiment was additionally soured by Turkish election results.
Markets showed increased concerns about the possibility that President…
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Key barriers in focus but consolidation likely to precede attack
Strong bullish acceleration extends into fifth straight day and cracks 200DMA (137.05), with key barriers at 137.77 (May 2 top) and 137.90 (Mar 8) in focus.
Daily studies in full bullish setup support the action, along with last…
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Bears hold grip and look for attack at next key support
The Euro extends weakness in early European session trading on Wednesday, after the action stayed in a sideways mode in past two days but capped by broken pivotal Fibo support at 1.0874 (38.2% of 1.0516/1.1095), keeping negative near-term…
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Bulls regain traction and generate initial signal that correction has bottomed
Cable quickly regained ground after post-UK jobs data dip below 1.25 handle, following short-lived negative impact from higher unemployment and jobless claims, as prevailing expectations that the BoE would deliver another rate hike in June…
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Dollar index in defensive after a double upside rejection
The dollar dipped further on Tuesday morning, extending pullback into second consecutive day after bulls repeatedly failed to break through pivotal Fibo support at 102.52 (38.2% of 105.85/100.45 downleg).
Upside rejection formed a…
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Aussie rebounds on improved risk sentiment but fresh bulls face headwinds from thick daily cloud
Australian dollar regained traction after nearly 2% drop last Thu/Fri and bounced 0.6% in Asian/European trading on Monday.
Fresh recovery was driven by improved risk sentiment, which prompted traders to collect some profits after a…
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Weekly close below key Fibo support was bearish signal
The Euro is consolidating within a narrow range in early Monday following strong acceleration lower last Thu/Fri and the biggest weekly loss since mid-February.
The pair also registered a weekly close below pivotal Fibo support at 1.0874…
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Pivotal $2000 support under pressure again but holding for now
Gold price fell for the third straight day and tested psychological $2000 support, but dip was so far short-lived as price quickly bounced back.
The second strong rejection at $2000 points to strength of the support and also signals that…
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WTI Oil – Bears regained control but struggling to clear key $70 support
Oil price is holding in red for the third straight day, under fresh pressure on renewed concerns about economic situation in the world’s two largest oil consumers – US and China.
Crisis in banking sector and no results in solving problem…
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