Bulls hold under strong barriers, awaiting signals from key events this week
Cable keeps positive tone and continues to pressure key barriers at 1.2300 zone (former top of Aug 1 / 50% retracement of larger 1.4249/1.0348 downtrend), where bulls face strong headwinds for the third consecutive week.
Sustained break…
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Natural gas price jumps 10% on Monday’s gap-higher opening
The natural gas price rose further, opening with 10% gap-higher on Monday that generated strong bullish signal.
The price was up nearly 22% from last Friday’s low, with total advance of 31% in past four days.
Much colder than expected…
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Firm break of key Fibo barrier to neutralize warnings from weekly chart
The Euro regained traction in early Monday’s trading after Friday’s close in red, and attacks again key Fibo barrier at 1.0578 (38.2% of 1.2266/0.9535) where the action was already rejected twice last week.
Daily studies maintain strong…
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Britain’s economy accelerates above expectations in Oct, but overall outlook remains gloomy
Great Britain’s Gross Domestic Product ticked above expectations in October, with monthly figure showing rise by 0.5% against expected 0.4% expansion and following September’s 0.6% drop, while annualized GDP was 1.5%, above consensus at…
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Pullback acceleration adds to signals of reversal
The USDJPY accelerated lower on Friday after a triple daily Doji, adding to signals that short recovery from 133.62 (Dec 2 low, the lowest since Aug 16) might be over.
Fresh bears hit 50% retracement of 133.62/137.85 upleg and eyeing key…
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Cable keeps positive tone above 200DMA but weekly Doji warns
Cable remains constructive and extends bounce from 200DMA on Friday, retracing over 61.8% of a shallow pullback from 1.2344 to 1.2106 so far.
Bulls are underpinned by 10/200DMA golden-cross and strong positive momentum on daily chart,…
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Dollar remains at the back foot on renewed recession fears, Fed in focus
The dollar index holds in red for the third day and threatening to fully retrace recovery leg from 104.05 (Dec 5 low, the lowest in 3 ½ months) after bulls were trapped above 200DMA.
The dollar came under pressure on renewed concerns about…
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Bulls to hold grip while rising 10DMA protects the downside
The Euro remains constructive above solid supports at 1.0448/52 (10DMA / Fibo 38.2% of 1.0222/1.0594 upleg) which contained pullback after larger bulls failed to break pivotal Fibo barrier at 1.0578 (Fibo 38.2% of larger 1.2266/0.9535…
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WTI is trading near new 2022 low, pressured by demand concerns
WTI oil price is consolidating above new 2022 low ($71.74) hit on Wednesday, following sharp four-day fall.
Growing concerns that economic slowdown would further weaken demand and increased production in the US, continue to pressure oil…
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Dollar loses traction after 200DMA capped recovery
The dollar index slipped on Wednesday, reversing bounce of past two days, after it repeatedly failed to clear strong resistance, provided by 200DMA (105.57).
Overall bearish daily studies maintain downside pressure, with stall of short…
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