Larger bulls likely to resume after extended consolidation
The USDJPY extends range trading into third consecutive week, as Doji candles in past two weeks signal strong indecision.
Repeated weekly upside rejection points to strong headwinds that bulls face, but the downside was so far well…
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Euro falls further after break of critical supports, eyes targets at 1.0069/00
The Euro extends steep fall, sparked by strong risk aversion on growing recession worries and boosted by a break of critical technical supports that signaled a continuation of larger downtrend from 2008 peak (1.6039).
Fresh weakness pushed…
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Repeated close below 1.20 to keep bears in play for further drop
Cable remains at the back foot but holding just above new 28-month low (1.1898) hit after Tuesday’s 1.37% drop).
Fresh bears cracked former low at 1.1933 (June 14) and 1.1930 (Oct 2016 low) but failed to register a daily close below on a…
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Eurozone retail sales increase in May but below expectations
Eurozone monthly retail sales rose by 0.2% in May after a sharp fall by 1.4% previous month, but missed expectations for 0.4% increase, while annualized figure showed an increase of 0.2%, compared to last year, overshooting forecasts for…
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Bulls take a breather under 20-year high ahead of Fed minutes
Bulls are taking a breather under new two-decade high, following Tuesday’s 1.3% rally, sparked by fresh risk aversion on recession fears, while the greenback remains underpinned by expectations aggressive Fed, as the US central bank has…
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Bears are consolidating after a 10% acceleration on Tuesday
WTI oil edges higher in early Wednesday after falling nearly 10% previous day (the biggest daily loss since Mar 9), as renewed supply concerns of growing recession signals slashed oil prices.
Profit-taking pushed the price higher, though…
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Gold falls to new 2022 low as dollar surges on risk aversion and rate hike bets
Spot gold lost ground on Tuesday and fell through psychological $1800 support (after two rejections on May 16 and July 1) hitting new 2022 low in the biggest one-day loss since Jun 13.
Growing expectations on aggressive rate hikes in the…
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Euro slumps to 20-year low on growing recession fears
The Euro collapsed through key support zone on Tuesday and hit the lowest in almost two decades, in the biggest daily fall since Jun 16, 2021.
Fresh weakness was sparked by renewed risk aversion on rising gas prices that fueled fears of…
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Bears are taking a breather after strong rejection at 1.20 zone on Friday
Cable is trading around 1.21 handle, moving in a narrow range on expected lower volumes due to US Independence Day holiday.
Friday’s daily candle with long tail signals that bears are lacking strength for a final attack at 2022 low…
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Double rejection keeps the downside protected but recovery faces tough work at the upside to…
The Euro is holding in a tight range on Monday, following initial bullish signal on double downside rejection last Thu/Fri, on expected headwinds at key 1.0360/40 support zone.
Mixed daily studies (14-d momentum is attempting to break into…
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