Bulls lose traction but expected to remain in play as bear-trap underpins the action
The USDJPY is standing at the back foot in early European trading on Thursday after long-legged Doji on Wednesday signaled that previous day’s strong rally lost traction.
Near-term action is underpinned by a bear-trap under 110.94 (Fibo…
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Risk aversion and UK data miss push sterling lower after four-day rally
Fresh risk aversion, combined with weaker than expected UK data, pushed sterling nearly 0.5% down in European trading on Wednesday.
Strong rebound in past four days lost steam at initial barrier at 1.3641 (Aug 20 low) and ahead of 1.3662…
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Supply issues and inflationary pressures reduced the speed of EU’s business growth in September
Eurozone’s business growth remained strong in September, as most of restrictions imposed to contain Covid-19 pandemic have been lifted, but activities slightly slowed, compared to the previous month.
EU’s Composite Purchasing Managers’…
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Bears regain traction after minor recovery but may stay on hold until US NFP data
The Euro returns to red on Tuesday after minor correction in past two days lost traction ahead of initial resistances at 1.1660 zone.
The pair keeps negative tone but probes below pivotal 1.16 support zone, so far lacked strength to make a…
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Australia’s central bank keeps the policy unchanged despite heated housing market
The Reserve Bank of Australia, as expected, kept interest rates at a record low in its October meeting. The central bank also decided to continue to buy bonds at unchanged pace of A$4 billion a week, on expectations of contraction in…
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Oil prices surge on OPEC+ decision to continue production increase
The WTI price surged on Monday and hit the highest levels since November 2014, lifted by decision of OPEC+ group to stick to plan for gradual production increase.
The group of top oil producers, including Russia and allies, known as OPEC+,…
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Recovery extends into third straight day and pressures pivotal barriers at 1.36 zone
Fresh bulls from new nearly ten-month low (1.3411) hold grip for the third straight day and crack pivotal 1.1.3570/1.3600 resistance zone (former lows of July/Aug / daily Tenkan-sen / Fibo 38.2% of 1.3912/1.3411).
Renewed risk appetite…
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Bears are pausing above strong 1.16 support zone but risk remains skewed to the downside
The Euro is consolidating above new multi-week low (1.1562) posted last week after larger bears cracked key 1.16 support zone (Sep/Nov 2020 higher base) and registered a marginal weekly close below here.
Overall structure remains negative…
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Increased demand in the fuel and stock markets by increasing the level of risk-taking
Yesterday, the governors of the world's major central banks announced at a meeting of the "Policy Panel" the assessments show that the rapid growth of inflation will be temporary, which has increased the level of risk-taking in the stock…
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The dollar index reached its highest level in a recent year and expecting impressive news from the…
The dollar index has reached its highest level in the current year, and the reaction to this level will be significant. The UK Gross Domestic Product (GDP) indices were released today, showing annual growth of 23.6% and seasonal growth of…
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