Dollar maintains firm bearish tone but consolidation may precede fresh push lower
The dollar edges higher from new nearly five-month low on Wednesday as increased demand at the end of the month dent larger bears.
Recovery is likely to be limited and offer better opportunities to re-enter the downtrend, as bears took out…
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Gold hits a multi-month high on weaker dollar
Bulls strengthened grip on Tuesday after a brief pause (presented by Monday’s Doji candle) and push gold price to a new highest level since early January.
Fresh advance peaked at $1895, pressuring psychological $1900 barrier, which guards…
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Cable drops on weak data, strong rise of EURGBP cross
Cable lost traction on Tuesday and fell around 100 pips, deflated by downbeat CBI survey of the retail sector and strong rise of EURGBP cross.
Fresh weakness moves focus to the lower boundary of the range in which the price action moves…
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German economy shrank more than expected in Q1 but business morale rose to two-year high,…
The German economy contracted by 1.8% in the first quarter of 2021, overshooting the expectations of 1.7%, as restrictions on the third wave of coronavirus slowed the economy which expanded by 0.3% in the fourth quarter of 2020.
Europe’s…
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Break of five-day congestion signals bullish continuation
The Euro jumped to new 4 ½ month high in early Tuesday’s European trading, lifted by fresh weakness of the dollar.
Fresh strength broke above five-day congestion and signaling continuation of the uptrend from 1.1704 (Mar 31 low), but daily…
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Bulls regain traction and pressure near-tern range ceiling
The Euro bounced on Monday and reversed the most of Friday’s drop, as fresh advance is pressuring the upper boundary of the range that extends into fifth straight day.
The single currency remains well supported by expectations that bloc’s…
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Near-term action remains congested between 55DMA and daily cloud top
The Australian dollar edges higher on Monday after a multiple failure at 55DMA (0.7716) which proves to be strong support.
Fresh advance is supported by rising bullish momentum on daily chart, but headwinds are expected at daily cloud top…
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Bullish bias above 1.41 but risk of pullback exists
Cable is standing at the back foot in European trading on Monday, following Friday’s close in red after strong upside rejection just ticks ahead of 2021 high at 1.4238 (bulls spiked to 1.4233 before pulling back).
Fresh weakness on Monday…
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Dollar holds in extended consolidation but bears remain intact
The dollar holds within extended congestion above new three-month low at 89.61, posted on Friday.
Traders were disappointed by dovish stance from Fed as minutes from central bank’s April policy meeting showed that those policymakers who…
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Euro risks deeper pullback after bulls repeatedly stalled
The Euro lost traction on Friday following comments from ECB President Lagarde who said that it is still too early to discuss policy after the end of central bank’s emergency bond buying scheme and seeing inflation rise this year as…
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