Cable stands at the front foot ahead of UK inflation report
Cable extends recovery after Friday’s drop, holding positive sentiment after the BoE kept its mode of gradual rate increases on last week’s policy meeting, but showed readiness for more aggressive steps if needed to curb surging inflation.…
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Bullish continuation is likely scenario after completion of a shallow correction
Bulls pressure a multi-year peak at 135.57 on Tuesday after shallow pullback last week, as bear-trap under 112.06 Fibo support and Friday’s bullish engulfing signaled that bulls returned to power and accelerated rebound.
Although daily…
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The downside remains at risk while the price stays below 0.70 pivot and unlikely more aggressive RBA
The AUDUSD remains constructive in early Tuesday, though the downside is still at risk after Monday’s action was strongly rejected at psychological 0.70 barrier, reinforced by falling 10DMA, which marks pivotal point.
Technical studies on…
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Dollar is set for further advance
Bulls are consolidating under new two-decade high but remain in play and position for further advance.
The dollar is supported by strong Fed rate hikes and hawkish stance that signals further action, as well as safe-haven demand on…
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Limited recovery likely to precede bearish continuation
The Euro edges higher on Monday, following Friday’s drop that generated strong signal of recovery stall.
Fresh strength was fueled by weaker dollar and resisted negative news that French President Macron lost an absolute majority in the…
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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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