Pullback finds footstep above significant support
Bitcoin managed to stabilize after Thursday’s 2.7% pullback extended on Friday but find ground above strong support at 22187 (rising 10DMA), which also created a golden-cross with 200DMA and additionally underpin the action.
Dip should be…
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Oil probes again through key barrier, underpinned by upbeat US GDP data and demand optimism
The WTI oil advances for the second consecutive day and probing again through strong resistance at $81.91, provided by the top of thick daily cloud and 50% retracement of $93.72/$70.09, where recent attacks failed several times to register…
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Yen edges higher on inflation figures but near-term action is still directionless
The USDJPY dipped after Tokyo core inflation rose above expectations in January, increasing pressure on Bank of Japan to start phasing out its ultra-loose policy.
Near-term price action holds in a sideways mode, ranging around 130 level…
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Bulls face strong headwinds but remain in play; US inflation data in focus
Cable edges lower in early Friday’s trading as bulls continue to face headwinds and repeatedly failing to sustain gains above 1.24 mark, keeping the price action in sideways mode for one week.
Strong barrier at 1.2446 (base of falling…
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US economy expanded above expectations in Q4 2022
The US Gross Domestic Product rose at a 2.9% annualized rate in October-December 2022 period, after the economy grew by 3.2% in the third quarter but beat expectations for 2.6% growth.
The data signal that the economic growth remained…
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Bulls take a breather ahead of key US GDP data
Gold price eases from new multi-month high ($1949) in European trading on Thursday, as larger bulls take a breather ahead of release of key US GDP data.
The US economy is expected to show growth of 2.6% in the last three months of 2022,…
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Aussie hits 5-month high vs US dollar, boosted by hot Australian inflation
The AUDUSD hit new 5-month high on Thursday, following strong bullish acceleration on Wednesday, sparked by unexpected rise in consumer prices in Q4, which signals that the RBA would continue to raise interest rates in coming meetings.…
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Bulls may take some time to eventually break through pivotal barriers at 1.0930/42
The Euro maintains firm tone and continues to pressure pivotal barriers at 1.0930/42 (top of thick weekly cloud / 50% retracement of 1.2349/0.9535).
Overall picture is bullish as the pair is on track for the fourth straight strong monthly…
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Australia inflation rises well above expectations in Q4
Australian annualized inflation rose to 7.8% in the fourth quarter of 2022, from 7.3% in Q3 and beating forecast for 7.5% increase, while quarterly inflation climbed to 1.9% in Q4 from 1.8% in Q3 and against forecasted drop to 1.6%.
The…
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Bitcoin maintains bullish stance after a limited pullback
Bitcoin regained traction after pulling back from new multi-month high (21638) and falling by 2.6% on Wednesday, as more hawkish than expected stance from Fed temporarily soured the sentiment.
Larger bulls remain intact after the pullback…
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