Bulls look for a break through multi-year highs but may take some time for further consolidation
Shallow pullback from new multi-year high (136.70) found solid ground at 134.26 (Fibo 23.6% of 126.36/136.70) and subsequent bounce accelerated on Tuesday, retracing over 76.4% of 136.70/134.26 pullback, and confirming that bulls regained…
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Thick daily Ichimoku cloud continues to limit recovery
Although the Euro stands at the front foot and continues to attempt higher, the recovery remains questioned, as thick daily cloud continues to limit the action for the sixth straight day, while falling 55 DMA (1.0614) additionally weighs.…
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Oil price rises on renewed supply concerns
WTI oil advanced around $8 in a strong recovery that extends into third straight day, lifted by renewed supply concerns.
Growing worries that OPEC members Saudi Arabia and United Arab Emirates, the only two cartel-member countries with…
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German consumer sentiment fall to new record low
German Gfk institute consumer sentiment index fell to record -27.4 heading into July, after a brief bounce in June (-26.2), although the latest drop in consumer morale was not as severe as economists forecasted in July (-27.7).
Compared…
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Directionless mode extends, awaiting fresh signal
Cable enters the US session on Monday in red after short-lived rally, inspired by renewed risk mode, pushed the price to a ten-day high in early European trading.
The price remains within the range which extends into sixth consecutive day,…
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Signals of new western sanctions on Russian gold imports lift the price but overall structure is…
Spot gold opened with a gap higher and edged higher on Monday, lifted by signals that some Western nations are planning to officially ban imports of gold from Russia, in extension to the package of sanctions already imposed.
The technical…
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Bulls are expected to resume after correction as the dollar remains supported by strong safe haven…
The dollar index eases further on Monday after recovery attempts repeatedly failed to clear 10DMA (currently at 104.18).
Fresh bears pressure solid support at 103.42 (daily Kijun-sen / 50% retracement of 101.29/105.54 upleg) which guards…
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The Euro stands at the front foot but bulls need more work at the upside to sideline downside risk
The Euro keeps positive tone at the start of the week and penetrates again thick daily cloud after last week’s rallies failed to register a daily close within the cloud for the four consecutive times.
Fresh bulls attempt to break above the…
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Limited pullback keeps bulls intact for fresh push higher
The USDJPY is trading within a narrow range in early Monday, after a pullback from new multi-year high (136.70) was repeatedly limited by Fibo 23.6% of 126.36/136.70 upleg (134.26) with another positive signal seen on repeated failure to…
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Oil bounces on fresh supply fears but growing signs of global recession weigh
WTI oil regained traction and bounced around $3 on Friday, on revived supply fears on almost total shutdown of production in OPEC member Libya, due to unrest in the country.
Fresh strength correct strong fall on Wednesday, when the US…
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