Action in early Monday lacks direction but overall picture remains bearish
Cable is consolidation after 1.1% drop on Friday, which was contained by 5DMA, with a narrow range in early Monday suggesting a lack of direction.
Daily studies are bearishly aligned with strong negative momentum and MA’s in bearish setup…
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Worries of economic slowdown weigh on oil prices
WTI oil edged higher on Friday following strong downside rejection on Thursday, but the structure remains fragile, due to demand concerns, fueled by worries that recent rate hikes by major central banks and particularly aggressive Fed,…
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Eurozone inflation rises to new record high in May
The Eurozone inflation rose to new record high at 8.1% in May, from 7.4% previous month and in line with expectations, while core inflation, stripped from volatile food, energy, alcohol and tobacco components rose to 3.8% in May from 3.5%…
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Near-term risk shifts lower after thick daily cloud capped recovery
The Euro turned to red on Friday after recovery on Wed/Thu was capped by the base of thick daily cloud (spanned between 1.0566 and 1.0767)) and dollar returns to strength after hawkish Fed and BoJ remaining on hold.
The action remains…
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USDJPY returns to strength after shallow pullback
The dollar regained traction and bounced on Friday, after two-day pullback from new highest since 1998 was contained by Fibo support at 132.05 (38.2% of 126.36/135.57 upleg.
The sentiment for yen was soured by today’s Bank of Japan’s…
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Cable remains volatile and looks for clearer direction signals
Cable eases in early Friday, following strong rebound in past two days which lost traction at the first strong obstacle at Fibo 38.2% of 1.3147/1.1933 descend, denting initial signal of reversal.
Sterling was boosted by BOE’s rate hike by…
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US retail sales unexpectedly drop in May
The US retail sales dropped by 0.3% in May, falling below expectations for 0.2% rise and against downwardly-revised 0.7% increase in April, while core retail sales, which exclude gasoline, automobiles, food services and building materials…
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Bears are taking a breather, awaiting fresh signal from Fed’s decision
The AUDUSD rebounds on Wednesday after five straight days of steep fall, as revived risk sentiment gave fresh boost to Aussie.
Oversold daily techs and potential formation of bullish engulfing pattern today, may act as initial reversal…
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Dollar is positioning ahead of Fed
The dollar eases on Wednesday, as traders collected profits from the past four-day rally but also look for better levels to -re-enter bullish market, as outlook for the dollar, according to latest expectations for tomorrow’s Fed decision,…
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Reversal pattern is forming on daily chart but outlook remains negative on expectations for more…
The Euro bounces in early Wednesday following announcement that ECB’s will hold an unscheduled and rare meeting regarding the turmoil in bond markets.
The ECB officials will discuss the problem of sharp rise of bond yields since the ECB…
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