Break below consolidation range floor generates initial reversal signal and risks deeper pullback
The pair dips to one-month low on Tuesday, extending the bear-leg off 114.27 lower top into fourth straight day.
Monday’s break and close below 113.38 (former higher base / Fibo 23.6% of 109.11/114.69 rally) weakened near-term structure,…
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Strong rebound looks for confirmation on break of pivotal Fibo barrier
Cable is consolidating under pivotal Fibo barrier at 1.3580 (38.2% of 1.3833/1.3424) which capped Monday’s 0.63%advance.
Pound regained ground after strong fall last week, sparked by BoE surprise decision to stay on hold, despite many were…
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Gold continues to benefit from weaker dollar on dovish Fed, BoE; key barrier under pressure
Spot gold extends higher on Monday after a brief consolidation, following 2.8% advance in past two days.
The yellow metal hit new two-month high after dovish tones from major central banks soured risk sentiment.
The Federal Reserve…
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Bears continue to face strong headwinds from 1.15 support zone
The Euro stands at the front foot in early Monday, following strong downside rejection on Friday that left a hammer candle, generating initial reversal signal.
Multiple downside rejections on approach to pivotal Fibo support at 1.1492 (50%…
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US labor sector growth regained momentum in October as impact from summer Covid wave subsides
US non-farm payrolls rose by 531,000 in October, from upwardly revised September’s figure from 194,000 to 312,000 and strongly beating expectations for 450,000 increase, signaling that US job growth is picking up as summer wave of…
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Cable continues to travel south after BoE disappointed expectations for rate hike
GBPUSD
Cable remains firmly in red and extends weakness below 1.3500 mark, following a massive fall on Thursday (down 1.35%, the biggest one-day drop since 18 Mar 2020), sparked by BoE disappointment.
The Bank of England kept rates…
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Bank of England kept rates on hold in November, disappointing those betting for the first…
The Bank of England kept interest rates unchanged in its November policy meeting, disappointing those betting that it would have been the first of the world’s major central banks to start hiking rates after a period of ultra-low rates…
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Eurozone business growth slows in October
The business activity in the Eurozone slowed in October, as input prices rose at the fastest pace in more than twenty years, lifted by persisting supply bottlenecks, related to the latest wave of coronavirus infections.
EU Composite…
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US private sector hiring rose above expectations in October
Payrolls in the US private sector rose by 571,000 in October, from downwardly revised September’s figure at 523,000 and strongly beat forecasts for increase by 400,000 jobs.
Solid figures from ADP National Employment Report signal that…
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Dollar in a quiet mode but steady, ahead of Fed
The dollar remains steady against yen on Wednesday, although trading within a narrow range, partially due to closure of Tokyo and partially due to quiet mode ahead of Fed’s verdict later today.
The US central bank is widely expected to…
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