Bears are taking a breather before resuming
The Australian dollar is holding within narrow consolidation on Wednesday as pullback from 2021 high (0.7820) found footstep at 0.7563 (rising 55DMA) on Tuesday.
The support is seen tentative as remarks from RBA about extended period of…
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Deeper pullback seen on firm break of 20DMA
Cable stands at the back foot in early Wednesday’s trading and pressures again pivotal 20DMA support (1.3648) which holds the action since late December.
Near-term bias remains negative following fresh weakness after multiple failures to…
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Bears extend deeper in the cloud after completion of H&S pattern
The Euro remains in red for the third day and consolidating under new two-month low at 1.2011, with fresh negative signal being generated on close below pivotal supports at 1.2064/53 (Fibo 38.2% of 1.1602/1.2349 / Jan 18 former correction…
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Australia is expected to keep accommodative policy for several years
Reserve Bank of Australia Governor Philip Lowe pledged to keep interest rates near zero for extended period of time, after the central bank left its cash rate at a record low yesterday and extended bond buying by another A$100 billion.…
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Silver drops sharply after false break above $30
Spot silver fell sharply on Tuesday (down nearly 7% until early hours of the US session) following short-lived surge to eight-year high on probe above $30 barrier on Monday.
The rally stalled after huge buying by a pack of small traders…
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Dollar rises to nine-week high on fading risk sentiment
The dollar index extends gains and hits the highest in nine months on Tuesday, lifted by fading risk sentiment on darkening economic outlook on extended lockdowns.
Monday’s 0.54% rally, which penetrated through the base of thick falling…
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EU GDP falls less than expected in the final quarter of 2020
The European Union’s economy contracted less than forecasted in the fourth quarter as bloc’s large economies Germany and Spain remained resilient and cushioned the impact of pandemic-induced new lockdowns.
Germany ticked up 0.1% in Q4,…
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WTI oil trades above $54 for the first time in one year
WTI oil extends rally on Tuesday, following previous day’s 2.95% advance and trades above $54 barrier for the first time in almost one year.
Fresh bulls attempt to clearly break key 200WMA barrier ($53.24) which capped the action in past…
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Penetration of thick daily cloud further weakens near-term structure
Larger bulls got in more troubles after Monday’s 0.57% drop and eventual close within thick daily cloud.
Bearish acceleration also managed to register a marginal close below pivotal Fibo support at 1.2064 (38.2% of 1.1602/1.2349) on…
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Cable remains within the range after another upside rejection
Cable bounces in early Tuesday’s trading, following retest of new 32-month high on Monday and subsequent one cent drop.
The pair remains congested within 150-pips range for the second straight week after repeated failures to clearly break…
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