Risk of consolidation / correction before final push through June high rises
Cable is holding within narrow range below new 6-week high at 1.2767 in early Thursday’s trading, after repeated close above 200DMA (Tue/Wed) generated bullish signal.
On the other side, Wednesday’s long-tailed Doji signaled that the…
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Bulls face headwinds at key barrier and may pause before resuming
The Euro edges lower in early European trading on Thursday, as rising US/Chine tensions hurt risk sentiment.
The single currency also faces headwinds from strong barriers at 1.1595/1.1600 (50% retracement of larger 1.2555/1.0635 descend…
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Bulls could extend towards key Fibo barrier at 1.1822 on clear break of 1.1600 zone
The Euro cracked important barriers at 1.1595/1.1600 (50% of 1.2555/1.0635 / round-figure) on Wednesday, as bulls accelerated and extend into fourth straight day.
Rally is currently taking a breather and consolidating on overbought hourly…
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Bulls lose traction on approach to key barrier
Cable pulls back from new 1 ½ month high (1.2767) on Wednesday, as bulls started to lose traction on approach to key barrier at 1.2813 (10 Jun high).
Tuesday’s break and close above 200DMA (1.2697) was strong bullish signal which…
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Aussie is consolidating under new 15-mth high, bulls look for 0.72+ extension
The Australian dollar hit the highest since Apr 2019 on Wednesday, in extension of Tuesday’s 1.6% advance (the biggest one-day gain since 1 Jun).
Strong bullish signal was generated on Tuesday’s close above 0.7064 (2020 high) and probe…
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Bulls look for test of 2019 high and Fibo 50% of 2018/2020 fall
The Euro is holding near new 2020 high (1.1546) early Wednesday’s trading, following 0.7% advance on Tuesday (the biggest one-day gain since 4 Jun) and close above previous year’s high (1.1495).
Strong risk sentiment on hopes that global…
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Fresh weakness needs confirmation on close below key Fibo support at 106.87
The pair accelerated lower in early US session on Tuesday, dragged by dollar index’s breach of key near-term support, with weakness also being fueled by strong risk appetite in the market.
Triggering stops at 107 zone also contributed to…
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WTI jumps above $42, hits new 4 1/2 month high
WTI oil rose above $42 per barrel for the first time in 4 ½ months on Tuesday, attempting to eventually emerge from congestion that lasts since early June.
Oil price was lifted by EU stimulus deal and positive news about coronavirus…
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