Gold is likely to hold in extended consolidation before fresh attempt through $2000 barrier
Gold price edges lower on Wednesday, keeping near-term picture negatively aligned, as larger bulls lacked strength to clearly break above psychological $2000 barrier, after three unsuccessful attempts.
Obviously, $2000 level marks…
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Euro extends advance as tensions in banking sector continue to ease
The Euro extends steep recovery into third straight day, lifted by renewed risk appetite on easing fears of deeper crisis in banking sector.
Strong bullish acceleration has so far retraced over 61.8% of last week’s sharp two-day pullback…
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Dollar starts to gain traction but remains overall bearish
The dollar index regained some ground on Wednesday following strong drop in past two days, sparked by on calmer tones over recent turbulence in banking sector and growing hopes that deeper crisis can be averted.
Investors remain…
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Aussie dips on weaker than expected Australian inflation
Australian dollar fell against its US counterpart in early Wednesday, after data showed that inflation in Australia slowed significantly in February.
Inflation slowed to eight month low, adding to the case for possible pause in interest…
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Bulls are taking a breather after strong rally
WTI oil price is consolidating on Tuesday, following Monday’s strong rally of nearly 5% and keeping traction for possible further advance.
Crude prices received strong support from supply disruption in Iraqi Kurdistan, as Iraq was forced…
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High inflation and growing expectations for further rate hikes keep pound supported
Cable edged lower in European trading on Tuesday, after attempts at pivotal barrier at 1.2343 (Mar 23 high) stalled just under the target but keeps overall firm bullish stance.
The latest inflation data and comments from BOE Governor…
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Euro remains elevated by renewed risk appetite
Improved risk sentiment keeps the euro supported for the second straight day, adding to signals that 1.0930/1.0713 correction might be over, as fresh advance broke above 50% retracement of the pullback.
Daily studies maintain strong…
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USDJPY recovery gains pace but strong obstacles lay ahead
The USDJPY bounces on Monday after Friday’s action left long-tailed Doji, with short-lived dip below psychological 130 support signaling a bear-trap and forming reversal pattern on daily chart.
Initial signal of direction change still…
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Aussie likely to remain in red as banking crisis weighs on risk sentiment
The AUDUSD is consolidating above one-week low (0.6625, hit last Friday after 0.7% daily fall), but keeps near-term bearish bias while the action is capped by converged 10/20 DMA’s (0.6668/70).
Repeated strong rejections under 200DMA…
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Near-term action remains directionless but bullishly aligned above key supports at 1.2200 zone
Cable regained traction after 0.5% drop last Friday, pushing the price into the upper part of prolonged consolidation range, which extends into sixth straight day.
Friday’s pullback was again contained by strong supports at 1.2200 zone…
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