Oil prices come under fresh pressure on growing fears of Omicron impact
WTI oil price dipped again on Tuesday, following a short-lived recovery of last Friday’s 12.5% drop, coming under fresh pressure on doubts on the efficacy of Covid-19 vaccines against new Omicron variant of the virus.
Fresh weakness…
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Weekly shooting star and bull-trap generate initial reversal signal
The dollar index is holding in ire for the third straight day and extending pullback from new multi-month high at 96.92.
Bears gained control after the news that new variant of coronavirus was detected last Friday, with narrower range on…
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Bears resume through key supports on new Omicron fears
Bears resume on Tuesday after a double rejection at pivotal Fibo support at 113.07 (38.2% of 109.11/115.51).
The latest comments from drugmaker Moderna’s CEO that Covid-19 vaccines were unlikely to be as effective against the new Omicron…
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Bear trap signals boost recovery but near-term picture is still mixed
The Euro extends gains above 1.13 mark in early Tuesday, following sideways mode previous day, but managed to register the second consecutive daily close above 10DMA (1.1281) that adds to signals of a bear trap under 1.1290 Fibo support.…
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Oil price rebounds after 12.5% drop on Friday; OPEC sees a reaction on Omicron news as overdone, not…
WTI oil regained traction on Monday and bounced close to $73 per barrel, following a massive 12.5% drop on Friday, sparked by fresh fears that new Omicron variant would hurt global demand.
Oil prices rose after markets digested the news,…
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Omicron concerns limit recovery and keep the downside at risk
Recovery attempts from new 2021 low (1.3278), posted after Omicron shock last Friday, were so far limited and unable break above Friday’s high (1.3362).
Risk-sensitive pound remains influenced by fears of the impact of new coronavirus…
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Fresh bears hold grip but face strong headwinds from key Fibo support
The USDJPY remains in red following Friday’s selloff (the pair was down 1.7%, the biggest daily fall since March 2020) driven by fears of new Omicron variant of coronavirus.
Friday’s massive bearish daily candle weighs heavily but bears…
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Near-term action lacks clear direction, 1.1290 Fibo level remains key
The Euro is standing at the back foot in early Monday following last Friday’s nearly 1% bounce, driven by weaker dollar on month-end sales and increased pressure as US traders are back after Thanksgiving holiday pause.
Friday’s rebound…
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Aussie extends weakness on fresh risk-off mode and pressuring key supports
The Australian dollar hit three-month low (0.7112) on Friday, pressured by fresh risk aversion after announcement that new highly-mutated variant of coronavirus has been detected.
The risk-off mode can escalate as many countries consider…
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Oil is on track for the biggest daily drop this year as fears on new virus variant further dent…
WTI oil fell over 6% since opening on Friday, in the steepest daily drop this year.
News that new variant of coronavirus, which could be more contagious and possibly resistant to the current vaccines was detected, raised fears that new…
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