Correction faced strong headwinds at key resistances
Cable is standing at the back foot in early Thursday, signaling that two-day recovery on oversold conditions, which was sparked by strong downside rejection on Monday, might be running out of steam.
Price adjustment on profit taking after…
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Bears are likely to travel further as conditions continue to worsen
The Euro hit new marginally lower 20-year low in early Wednesday, as risk assets fell in Asia, lifting the dollar to new high.
Technical studies show indicators on daily chart in full bearish setup, with oversold conditions likely to slow…
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The dollar is at its highest levels in the last twenty years, and the pound hit a historical low vs…
The markets became turbulent in past few days with existing trends accelerating on growing impact from a mix of key factors that lately drive the markets.
Rising geopolitical tensions which threaten to intensify and cause larger…
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Extended consolidation to precede fresh bulls
The USDJPY edges lower in Asian / early European session on Tuesday, after two-day rally lost steam on approach to initial barrier at 145.00 (former tops), as risk appetite starts to return to play.
Overall picture remains bullish, but…
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Bears are pausing above new multi-month low
WTI oil price falls to new multi-month low on Monday ($77.19, the lowest since Jan 5), in extension of last Friday’s 5.1% drop and a weekly loss of 6.5%, on track for the fourth consecutive strong monthly fall.
Near-term action is…
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Turkish lira hits new record low vs dollar, eyes psychological 20.00 level
The USDTRY hit new record high in fresh bullish acceleration after the pair traded within a narrow range, slightly elevated higher consolidation, a part of a larger uptrend from Dec 2021 trough at 10.2017.
In addition to overall weakness…
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Bulls are taking a breather under new 20-year high
The dollar is consolidating under new 20-year high, hit in Asia on Monday, as Fed signaled it will maintain its hawkish stance and go for another large rate hikes, that makes the greenback attractive, while traders continue to move into…
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Euro may fall further after consolidation
The Euro bounces from new 20-year low (0.9548) hit overnight, in extension of Friday’s almost 1.5% drop. Bears faced a headwinds after break of initial target at 0.9601 (Sep 2002 low), with profit-taking on oversold conditions, seen rather…
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German business morale falls to the lowest since pandemic
The data from German Ifo institute showed that business sentiment fell further in September, warning that the economy is heading into recession.
The Ifo business climate index fell to 84.3 in September, the lowest since May 2020,…
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Cable hits record low and eyes parity, as conditions continue to worsen
British pound fell to a record low vs dollar in Asian session on Monday, in extension of last Friday’s sharp fall, when the pair was down 3.6% for the day in the biggest daily drop since 10 Nov 2021.
Cable spiked through 1985 low at 1.0520…
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