Oil price rises on fresh optimism but there is still a long way towards more significant recovery
WTI oil advanced around 9% during Wednesday’s Asian / European trading and extended bounce from Tuesday’s $10.05 spike low above $14 per barrel.
API crude stocks data released on Tuesday, showed smaller than expected build in crude…
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Bears probe again through key supports ahead of US GDP data / Fed
The pair hit new six-week low in European trading on Wednesday, remaining firmly in red after Tuesday’s marginal close below 106.92 former base but failure to close below cracked daily cloud base (106.70).
Fresh bearish extension today…
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Aussie rises to seven-week high on fresh risk sentiment
The Australian dollar hit the highest since 10 March on Wednesday, extending advance into sixth straight day, driven by fresh risk demand as global easing of coronavirus restrictions commenced.
Inflation in Australia rose to 2.2% in Q1,…
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Bulls hover around 7.00 barrier and ready for eventual break higher
The pair is trading near magnetic 7.00 barrier which so far resists attacks but maintains firm tone and shows signs that eventual break would occur soon.
Shallow pullback after initial test of 7.00 level last week, signaled that bulls…
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Fresh bears look for confirmation on close below broken key supports
The pair accelerated lower on Tuesday, being down around 0.6% since opening in Asia, as dollar weakened across the board on renewed risk sentiment over relaxing coronavirus restrictions.
Fresh bears broke below double-bottom at 106.92…
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Bears face headwinds at $10 support zone but upticks were so far seen as positioning
WTI oil fell ticks ahead of psychological $10 support on Tuesday in extension of Monday’s 23% drop.
The sentiment weakened again after recovery from new record low stalled on growing fears over almost full global oil storage and strong…
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Aussie extends rally on fresh risk mode and fall in oil prices
The Australian dollar continues to ride on the wave of fresh optimism which boosted risk sentiment and hits new 1 ½ month high vs its US counterpart on Tuesday.
Fresh fall in oil prices added to bullish stance, which was confirmed by…
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