Aussie consolidates under key 200WMA barrier
The Australian dollar maintains positive tone on Monday, inflated by renewed risk mode and on track to fully recover Friday’s fall.
Larger bulls are consolidating under new high at 0.7295 (the highest since 31 Jan 2019) and more…
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Euro regains traction but risk of extended consolidation / deeper pullback exists
The Euro regained traction on Monday after Friday’s 0.5% fall, but risk of deeper correction still exists.
Pullback from multi-month high at 1.1965 found footstep at 1.1754 and subsequent bounce on Friday and today’s extension above…
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Fresh bearish extension increases downside risk
Strong bearish acceleration in European session on Friday was sparked by downbeat
PMI data of the eurozone the biggest bloc’s economies that pointed to the slowdown of recovery in August.
The data soured risk sentiment, sending the single…
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Dollar regains traction but more action higher needed to signal stronger correction
The dollar regained traction on Friday and cracks initial barriers at 93.16/22 zone (20DMA / Thursday’s high / Fibo 61.8% of 93.87/92.09).
The sentiment remains soured by Fed’s dovish stance and fresh increase in jobless claims that adds…
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Cable rose after strong data by was deflated by fresh Euro’s weakness
Cable probed again through pivotal Fibo barrier at 1.3243 (61.8% of 1.4376/1.1409) and approached new 2020 high (1.3266), inflated by better than expected UK retail sales data, but failed to break higher.
Upbeat UK PMI’s should also…
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Bears hit five-week low and pressure key supports
The cross extends steep fall into second straight day (was down 0.7% on Thursday) and hits five-week low (0.8943) in early Friday’s trading.
Bears approach pivotal supports at 0.8942/37/33 (daily cloud base / 10 July low / 100DMA), break…
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Deeper correction before final attack at 1.20 barrier is seen as likely scenario
The Euro edged lower in early European trading on Friday, turning focus again at key support zone between 1.1825 and 1.1811 (broken Fibo 61.8% / converging 10/20DMA’s) which contained downside attempts on Thursday.
Wednesday’s bearish…
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Quick drop on negative news was so far short-lived
WTI oil price fell almost $1 on Thursday after OPEC+ announced daily oversupply of more than two million barrels and US weekly jobless claims unexpectedly rose, warning of slowdown in economic recovery that would hurt oil demand.
However,…
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