Dips to provide better buying opportunities; $1800 support expected to hold
Spot gold eases on Friday morning after larger bulls broke above pivotal 200DMA ($1826) but Thursday’s Doji candle signaled indecision.
Dips are likely to provide better buying opportunities, as near-term structure is bullish, and the…
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Clear break out of triangle to provide fresh direction signal
Cable probes below triangle support line in early Friday, after repeated rejections at the upper boundary of the pattern signaled that bulls are lacking momentum, despite positive UK inflation data.
Fresh weakness is mainly driven by…
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Weak EU inflation figures would add to negative near-term outlook
The Euro is standing at the back foot in early European trading ahead of EU inflation data.
Thursday’s close in red after upside rejection and signal of bull-trap above falling 10DMA, weighs on near-term action, along with bearish daily…
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Expected supply increase keeps oil price under pressure
WTI oil remains in red on Thursday and extends south, following Wednesday’s 3% drop, as markets anticipate increased supplies after a compromise deal between leading OPEC producers.
Saudi Arabia and United Arab Emirates reached a…
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Upbeat inflation and labor data support sterling for break of the upper triangle boundary
Cable remains within choppy and narrowing range on Thursday, despite strong UK inflation and labor data, as well as dovish tone from Fed’s chief Powell.
Improving conditions in the UK labor sector suggest that economic recovery is gaining…
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China’s economic activity slows in Q2
China’s economic growth slowed below expectations in the second quarter, as higher prices of raw materials and new coronavirus outbreaks weighed on economic activity.
Economic growth slowed significantly from a record 18.3% expansion in…
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Recovery loses traction after dovish Lagarde’s comments
The Euro is consolidating under pivotal barriers at 1.1880/85 (recovery highs / falling 20DMA) after the action in past two days repeated failed at these levels.
Strong China’s trade data, released earlier today, boost the risk sentiment,…
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Bulls need to clear Fibo barrier at 92.52 to signal continuation; US CPI and Fed Powell testimony to…
The US dollar regained traction on Monday after 0.66% drop in past two days.
The pullback from new three-month high (92.82) was so far shallow, keeping intact the uptrend from 89.50 (May 25 low).
A significant decrease in dollar’s net…
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Bulls are taking a breather after strong rally on Friday
Cable is consolidating under new two-week high (1.3910), posted after Friday’s 0.9% rally, as sterling accelerated higher on fresh risk mode, inspired by global equity gains.
Pound’s sentiment improves on expectations that the government…
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Bulls regain traction but more evidence needed to signal reversal
Cable regained traction on Friday after negative tone prevailed during this week, with three-day drop ending with a hammer candle that generated initial bullish signal.
Fresh advance nearly fully reversed losses of this week but needs lift…
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