Bearish techs and weak fundamentals keep the euro under strong pressure
The Euro is consolidating above new 5 ½ month low (1.1186) in early Thursday, but maintains firm bearish tone, reinforced by the recent break of pivotal Fibo support at 1.1290 (61.8% retracement of 1.0635/1.2349 ascend) and probe below…
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Limited correction may precede bearish continuation
Cable is trading within a narrow range in early Wednesday after hitting new 2021 low (1.3342) on Tuesday but failing to sustain break below previous low of Nov 12 (1.3353).
Overall structure remains bearish but long tail of…
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Oil price comes under fresh pressure on talks of releasing emergency reserves
WTI oil returned to red on Tuesday after Monday’s recovery attempt from new seven-week low lost steam on probe through broken Fibo support at $76.39 (38.2% of $61.83/$85.39) and failed to register daily close above this level.
Oil came…
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Aussie extends south after recovery stalled
The Australian dollar fell further and hit new seven-week low in early Tuesday, after short-lived Monday’s recovery attempts.
Fresh strength of the US dollar after Jerome Powell got the second term as Fed Chair, further deflated
the…
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Gold tumbles as Powell gets the second term as Fed chair
Spot gold accelerated lower on Monday after announcement that US President Biden appointed Jerome Powell for the second term as Fed chair.
The news further inflated the greenback, already boosted by signals that the US central bank may…
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Rising hopes of early Fed rate hike and risk aversion keep the dollar well supported
The dollar is holding near the new highest in over 16 months on Monday, maintaining positive tone on growing hopes that Fed may accelerate tapering stimulus and open way for earlier than expected rate hike, as inflation continues…
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Turkish lira is taking a breather above new record low after a massive post-CBRT fall last week
The USDTRY is consolidating under new all-time high (11.2961) but holding firm bullish tone as lira’s attempts to regain ground were short-lived.
The greenback remains well supported by risk aversion and rising hopes that the Fed may…
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Repeated close below key Fibo support to confirm strong bearish signal and risk drop towards 1.10…
The Euro remains heavy in early Monday’s trading and attempting to sustain break below pivotal Fibo support at 1.1290 (61.8% of 1.0635/1.2349 ascend), following initial bearish signal on last Friday’s marginal close below this level.
Two…
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Oil drops to five-week low on growing Covid concerns in Europe
WTI oil fell below $75 per barrel on Friday, hitting five-week low, as sentiment soured further on fresh concerns about the health situation in Europe.
Austria is to enter full lockdown next week, with Germany likely to follow, with…
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Sterling loses traction despite strong data, dragged by weaker euro
Sterling fell across the board on Friday, weighed down by weakness of Euro, as new lockdowns in Europe on surging coronavirus cases soured the sentiment.
Austria will start a lockdown on Monday with high possibility that Germany would…
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