Near-term structure weakens but the price is still holding above initial support
The cross remains at the back foot on the first day of the week, after strong upside rejection left bearish daily candle with long upper shadow, signaling recovery stall and increasing pressure.
Fresh bears pressure pivotal support at…
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Aussie bounces strongly after rejection at rising cloud top
The AUDUSD rebounds strongly on Monday, lifted by further rise in iron ore, one of Australia’s top contributors to earnings from exports, as fresh signals of stronger recovery of China’s demand boosted sentiment.
Daily chart shows…
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Bear-trap under 200DMA looks for more upside action to be confirmed
Cable remains constructive at the start of the week, although with limited upside so far, following Friday’s bullish daily candle with long tail, which generated positive signal on strong downside rejection under pivotal 200DMA support…
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Bulls are taking a breather under new six-week high
Friday’s close in red with long upper shadow of daily candle and formation of bull-trap above Fibo 76.4% of 105.39/100.66 / top of weekly cloud, signals that bulls might be losing traction.
The price action is so far holding within daily…
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Key economic events this week eyed for fresh direction signals
The Euro is trading within a narrow range in early Monday, keeping near-term action in directionless mode for almost two weeks.
Multiple failure at pivotal Fibo support at 1.0679 (23.6% of 0.9535/1.1032) points to strong bids, with…
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Recovery is losing traction but bias remains with bulls above 10DMA
The USDJPY is holding in sideways mode for the third consecutive day and looking for fresh direction signal.
Recovery from 127.22 (2023 low of Jan 6) peaked at 135.11 on Friday (two-month high), but subsequent easing left a daily candle…
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Bitcoin awaits stronger near-term direction signal
Bitcoin pulled back on Friday after hitting new 2023 peak above 25000 on Thursday, as bulls lost traction on renewed hawkish tones from Fed which hint more rate hikes and probably at higher pace.
The price pulled back quickly after hitting…
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Gold falls further on Fed’s hawkish rhetoric
Gold is on track for the weekly fall of around 2%, confirming bearish stance on Fed’s hawkish shift towards more rate hikes that lifted dollar.
The yellow metal’s price fell to the lowest level since late December on Friday, after US…
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Oil weakness accelerate on rate hike expectations, fading supply worries
The WTI oil price accelerated lower on Friday, extending the downleg $80.59 high into fifth consecutive day.
The contract was down 2.4% until early US session on Friday, as bears gained pace on expectations of further rate hikes in the US…
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Bears eye 100DMA and 2023 low at 1.1841
Cable maintains firm bearish tone on Friday and extends steep fall into third consecutive day.
Friday’s action holds below psychological 1.20 level, which reverted to solid barrier, with fresh bearish acceleration probing below next…
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