Aussie surges to three-week high on risk appetite, fundamentals
The Australian dollar surged in early Wednesday’s trading, driven by higher stocks and rumors that China is discussing easing of ban on Australia coal imports.
Aussie advanced over 2% in Asia, early Europe and cracked pivotal barrier at…
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Dollar strengthened sharply as trader waiting FOMC Meeting Minutes
US dollar Rose sharply against a basket of major currencies on Tuesday, as traders waiting FOMC Meeting Minutes.
FOMC Meeting Minutes may provide cues on its policy tightening path. According to CME group, FED probably will rise rates next…
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Traders eye a number of economic indicators this week for fresh signals
The Euro eased from two-week high on the first trading day in 2023, in holiday-thinned market.
The action faces headwinds from falling weekly Ichimoku cloud and lacking momentum to break through Dec 15 peak (1.0736).
Near-term action is…
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Bulls are gaining traction for eventual break higher after a three-week pause
Gold regained traction after a bearish close on Wednesday, with fresh strength being driven by weaker dollar on Thursday.
The metal is on track to eventually register a weekly close above $1800, following a multiple failures in past four…
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Bulls are expected to resume after extended consolidation
The cross firmed on Thursday after Wednesday’s close in red but continues to face headwinds at 0.8850 barrier (50% retracement of 0.9498/0.8202), as the action failed to break clearly higher in three consecutive attempts.
Technical studies…
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Near-term action remains in a narrow range and looks for fresh direction signals
Cable continues to trade within a narrow range for the sixth consecutive day, with psychological 1.20 level offering solid support and keeping the downside protected for now, while the upside attempts repeatedly failed to register a daily…
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Larger bulls to remain in play above broken pivotal Fibo barrier
The Euro trades in an extended directionless, narrow-range mode, but underlying bullish structure remains intact, as bulls broke and holding above pivotal Fibo barrier at 1.0578 (38.2% of 1.2266/0.9535) for the third consecutive week that…
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Bull-trap and reversal pattern warn of deeper pullback
The WTI oil remains at the back foot for the third consecutive day and extends weakness in early European trading on Thursday.
The latest reports showed fresh surge in Covid cases in China, just days after the government eased its strict…
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Recovery shows initial signs of stall
The USDJPY remains at the front foot and rose to one-week high on Wednesday, but bulls face
headwinds at 134.40 zone and pulled back after failing to break through barriers provided by daily Tenkan-sen / 50% retracement of 138.17/130.56,…
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Signal of deeper fall on monthly close below broken pivotal Fibo support
The dollar index is in directionless near-term mode and trading within a narrowing, triangular range, but overall picture remains bearish.
Daily studies are in full bearish mode, weekly chart shows strengthening bearish momentum, but…
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