Strong rally starts to lose traction on overbought conditions / inflation concerns
The WTI oil remains at the front foot and extends strong rise from $72.24 (Feb 6 low) for the fourth straight day, underpinned by growing optimism over Chinese demand recovery.
Analysts remain cautiously optimistic as signs that inflation…
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Dollar is losing traction but more signals needed to spark deeper drop
The USDJPY edged lower in early Thursday but remains within 130.50/132.90 range which extends into fourth consecutive day.
Fading bullish momentum and south-heading stochastic / RSI on daily chart, signal that the downside is vulnerable,…
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Initial reversal signal is developing on daily chart
The Euro is holding a bit firmer footing in early European trading on Thursday after dollar failed to benefit more from recent hawkish comments from Fed officials.
Fresh strength might be generating an initial reversal signal after…
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Signals of hawkish Fed and bullish techs keep the dollar supported
The dollar regained traction in early US session on Wednesday, after closing in red previous day, slightly deflated by a lack of more hawkish tones from Fed chair Powell that markets widely expected, though he acknowledged that rates may…
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Limited correction likely to precede fresh weakness
Gold price is holding within a narrow consolidation for the second consecutive day after falling by 4.4% last Thu/Fri.
Limited upticks suggest that strong downside pressure persists, keeping in play risk of deeper correction of larger…
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Cable holds firm bearish stance ahead of Powell’s speech
Cable remains in red for the fourth straight day and probes below psychological 1.20 support, hitting new one-month low.
Strong support at 1.1951 (200DMA / Fibo 23.6% of 1.0348/1.2447) is under pressure and break here to generate fresh…
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German industrial production falls sharply in December
Industrial production in Europe’s largest economy dropped well below expectations in December, signaling that the activity in industrial sector, which used to be a main generator of growth in the economy, is in steep downward trajectory,…
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Completion of bearish pattern on daily chart adds to downside risk
The Euro is holding in a narrow consolidation near one-month low in European session on Tuesday. Near-term focus is shifting to the downside, as strengthening dollar on fresh hopes of Fed’s further rate hikes weighs and additional pressure…
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Bitcoin remains at the back foot but still lacks clearer direction signals
Monday’s gap-lower opening confirms that near-term structure is weakening, although the price is still holding within the range between 22310 and 24243 that keeps on hold risk of deeper pullback so far.
The bitcoin lost traction on soured…
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Limited upticks to keep bears in play for fresh attempts lower
The WTI oil is consolidating above one-month low after falling by 8.5% last week, deflated by by fresh signals about further rate hikes and growing concerns that slower growth in major economies would hurt global demand.
Markets reacted on…
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