Technical studies continue to point lower
The Euro accelerates lower in early European trading on Thursday, signaling possible break of recent congestion, as long tails and upper shadows on daily candles in past few sessions pointed to indecision.
Near-term action remains…
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Aussie dips to two-week low on dovish RBA; US CPI data in focus
The Australian dollar accelerated lower in late Asian / early European session on Tuesday, pressured by dovish comments from RBA governor Lowe.
The central bank’s outlook remains optimistic regarding economic recovery, with expectations…
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WTI rises above $70 for the first time in five weeks
The WTI extends strong advance into the second consecutive day and rose above psychological $70 barrier the first time since Aug 3, generating initial signal that two-week congestion under this level is over.
Fresh bulls hit five-week…
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The dollar index is set for acceleration through 93 resistance zone
The dollar index rose to a three-week high on Monday, extending recovery from early September’s bear trap under Fibo support at 92.11 (38.2% of 89.50/93.73 rally).
Fresh bulls emerged above rising thick daily cloud and near-term action…
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Bears accelerate under thick daily cloud
The Euro starts week in red and extends weakness below 1.18 mark in early Monday trading.
Fresh bears emerged after Sep 3 bull-trap above 1.1894 Fibo barrier (38.2% of 1.2266/1.1664) and gained pace after return below thick falling daily…
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Aussie regains traction but fresh bulls face strong headwinds from falling thick daily cloud
The Australian dollar regained traction on Friday and bounced to three-day high, confirming initial reversal signal., after Thursday’s Doji candle signaled that three-day pullback from new highest in nearly two months (0.7478) lost…
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Bulls hold grip despite weak GDP and pressure key 1.39 resistance zone
Cable extends strong advance into the second straight day as bulls ignored weak July GDP data but remain underpinned by weaker dollar and BOE’s 4-4 split on possible rate hike, ahead of central bank’s Sep 23 policy meeting.
The action was…
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UK economy slows significantly in July on surge in new Delta variant cases
The UK economy grew just 0.1% in July, compared previous month’s upwardly revised 1% growth and also disappointed expectation for an increase of 0.6%.
July data point to the smallest monthly increase since January, when the country went…
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European Central Bank trims its emergency bond purchases but says this is not tapering
‘The lady isn’t tapering’, ECB President Christine Lagarde said on today’s press conference following the central bank’s policy meeting.
There was no surprise from the ECB, although some analysts talked about possible shock from more…
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The euro would appreciate on tapering signals from ECB but would come under increased pressure on…
Three-day pullback from six-week high (1.1909) found footstep at 1.1815/10 zone (Fibo 38.2% of 1.1664/1.1909 upleg / 55DMA) and edges higher in European session on Thursday, lifted by better than expected German data.
Wednesday’s close…
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