Bulls likely to resume after consolidation
The Euro holds firm bullish tone and consolidating around new two-month high in early Wednesday, after bulls generated fresh bullish signals on Tuesday’s close above pivots at 1.0037/50 (100DMA / Fibo 61.8% of 1.0368/0.9535 respectively)…
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Gold accelerates higher sharply as dollar loses ground
Gold price was sharply up on Tuesday, accelerating on start of the vote in the US midterm election.
Bulls regained traction after strong rally that started last Friday, paused for consolidation on Monday and broke through pivotal barriers…
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Loss of key Fibo support to spark stronger bearish acceleration
The pair holds in red for the third straight day, with risk of further weakening seen on confirmation of initial bearish signal on Monday’s repeated close below Fibo support at 146.85 (23.6% of 130.39/151.94 upleg).
Rising negative…
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Near-term action to keep bullish bias while holding above daily Tenkan-sen
Cable eases in early Tuesday after strong two-day rally, as bulls take a breather on firmer dollar, so far unable to register a clear break above cracked 1.15 barrier.
Fundamentals remain weak as red-hot inflation bites, raising cost of…
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Aussie keeps firm tone despite weak economic data
The Australian dollar edges lower from new highest in nearly two weeks in early Tuesday, consolidating strong rally in past two days.
Overbought conditions on daily chart prompted a partial profit taking, though near-term structure remains…
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Bulls are consolidating ahead of fresh push higher
Bulls are taking a breather for consolidation after advancing 2.7% in past two days (Friday’s rally was the biggest daily gain since June 2016).
Initial strong bullish signal was generated on Friday’s close above thick daily cloud and…
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China’s trade contracts as Covid restrictions and global slowdown hurt demand
China’s exports contracted by 0.3% in October after rising by 5.7% in September and strongly missing forecast for 4.3% growth, while Imports fell by 0.7% in October vs 0.1% expansion forecasted and previous month’s 0.3% growth.…
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Oil holds bullish tone after Friday’s 5.3% rally
WTI oil price regained traction after a gap-lower opening and subsequent dip on Monday, pressuring last Friday’s three-week high, posted after Friday’s 5.3% rally.
Signals that the Fed may ease its firm hawkish stance in tightening…
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Bulls are taking a breather but remain in play on hopes of less aggressive Fed
Spot gold holds firm bullish stance and consolidating under three-week high, posted after 3.2% rally on Friday (the biggest one-day rally since 24 June 2016), sparked by US labor data which raised hopes that the Fed may ease its aggressive…
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Cable extends advance, eyes 1.15 barrier
Cable surges above 1.14 handle in European trading on Monday, in extension of Friday’s bounce from strong support at 1.1150 (Fibo 38.2% of 1.0348/1.1645) where a double bottom was left.
Fresh advance was sparked by renewed risk mode and so…
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