Bears continue to face headwinds from strong supports at 1.3682/70
Cable stands at the back foot in early Monday’s trading following bearish close last week, but bears continue to face strong headwinds from strong supports at 1.3682/70 (100DMA / Mar 25 low).
Long lower shadows on Friday’s and Monday’s…
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WTI price moves within narrowing range and looks for fresh direction signals
WTI oil price eased on Friday, being capped under psychological $60 level for the fourth straight day, but three consecutive Dojis with long shadows (Tue/Thu) signaled a lack of direction.
Persisting (although reduced) impact of COVID-19…
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The Euro is on track for strong weekly gains despite Friday’s drop
The Euro stands at the back foot on Friday and eases from new 2 ½ week high (1.1927) driven lower by rising dollar and US yields.
Fresh weakness probes back below 200DMA (1.1886) but close below here is needed to generate negative signal…
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Fed will keep its ultra-easy policy until the pandemic is over
The US Federal Reserve plans to keep its ultra-easy policy in place until it’s clear the pandemic is over and until it sees substantial further progress towards meeting the central bank’s inflation and employment goals.
St Louis Fed…
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Bears crack key supports and look to continue larger downtrend
Cable extends weakness into fourth straight day and tested key support at 1.3670 (Mar 25 low / 100DMA) in early European trading on Friday.
Bears emerged from daily cloud (cloud base lays at 1.3712) after trading within thick cloud for two…
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Aussie slips on vaccine issues but the action is still within a larger range
The Australian dollar slipped in early Friday’s trading (down 0.65% for the session) pressured by worries about a slowdown in Australia’s coronavirus vaccine rollout, following the imposition of restrictions on the use of AstraZeneca…
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US jobless claims rose again despite improving labor market
US weekly jobless claims rose for the second straight week, remaining stubbornly above 700K mark, signaling that drop to 658K two weeks ago was so far a false break
The number of Americans filling new claims for state unemployment…
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Gold cracks pivotal barrier on fresh acceleration higher as dovish Fed deflated dollar
Spot gold hit three-week high on Thursday after Fed’s minutes showed that the central bank is going to keep ultra-low interest rates for some time that deflated dollar and US yields and boosted metal’s appeal.
Fresh strength cracked…
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Bears resume after Fed and eye key 200WMA support
The pair extends weakness after near-term bears paused on Wednesday, hitting 1 ½ week low as dollar came under pressure after Fed minutes signaled that the central bank would stick to its ultra-accommodative policy until getting firmer…
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Bulls continue to face headwinds at 200DMA as signals are mixed
Fresh advance in early European trading on Thursday probes again through cracked 200DMA barrier, offsetting for now negative signals from Wednesday’s strong upside rejection that left bearish daily candle with long upper shadow and repeated…
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