Oil price climbs to 13-month high, lifted by demand recovery optimism and production cuts
WTI oil rose above $58 per barrel on Tuesday, hitting the highest in 13 months and establishing in the zone where it traded before the pandemic.
Oil price rises for the seventh straight day, with last week’s rally being the biggest since…
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Acceleration above the neckline generates initial reversal signal
Near-term focus shifts higher as the euro extends recovery in early trading on Tuesday, adding to initial reversal signals (double-bottom on daily cloud base / daily bullish engulfing).
Fresh advance moves above the neckline of daily…
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Pullback extends on fresh risk appetite / bull-trap
The pair accelerates lower in early Tuesday’s trading, holding in red for the third straight day and warning of deeper fall, as rising risk appetite on bitcoin surge weighs on dollar.
Fresh bears emerged after recovery rally from 102.59…
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Bulls eye recent peaks, boosted by renewed risk sentiment
Cable remains constructive on Monday and focusing new 2021 high 1.3757, following last week’s strong downside rejection (1.3565) which formed a bear-trap pattern, signaling strong bids and keeping larger uptrend (recently paused) in play.…
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Near-term bias remains negative below broken neckline
The Euro weakened on Monday, remaining at the back foot, despite strong rally on Friday (up 0.89% for the day) that formed bullish engulfing pattern on daily chart.
The action stays for the fourth straight day below the neckline of the…
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German industrial sector stagnated in December due to new lockdowns but avoided contraction
The activity in Germany’s industrial sector stagnated in December for the first time after seven months of expansion, but avoided contraction despite lockdowns in many countries, as strong demand from China helped export-oriented German…
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US employment growth rebounds below expectations in January
US non-farm payrolls increased by 49,000 in January, after December’s drop of 227,000, the first negative figure in eight months was downwardly revised from initial 140,000, following renewed restrictions
US employment growth rebounded…
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Improved sentiment lifts oil price to one-year high
WTI oil cracked $57 barrier and hit new one-year high on Friday, lifted by hopes that economic recovery will accelerate and boost demand, while OPEC and its allies are expected to maintain supply curbs.
Oil price rallies for the fifth…
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Technical studies point to further weakness but US jobs data likely to be the key driver
Bears are taking a breather following sharp acceleration lower on Thursday (down 0.62% for the day), after finding temporary footstep at key 1.1965 support (daily cloud base / 100DMA).
Strong bearish setup was confirmed by completion of…
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Gold is consolidating after 2.2% fall; NFP in focus for fresh signals
Spot gold is consolidating above new two-month low ($1785) posted on Thursday after 2.2% daily drop (the biggest one-day loss since Jan 8) which broke and closed below psychological $1800 level.
The yellow metal came under increased…
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