Weekly close above key Fibo barrier is needed to signal bullish continuation
Oil price steadies on Friday as hurricane shut most of the US oil production in the Gulf of Mexico, but
gains were limited as storm passed through the area without causing substantial damage to refineries.
Near-term sentiment remains…
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Gold built a base at $1920 but recovery needs more signals for confirmation
Spot gold advanced 1.4% on Friday after dovish signals from Fed that ultra-low rates would stay for prolonged period, sent dollar lower.
The yellow metal’s price was congested for more than one week, awaiting signals from Jerome Powell.…
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Dollar accelerates lower after markets digested Powell’s message
The dollar was sharply lower vs its major counterparts on Friday (down 0.8% since Asian opening), following Thursday’s bumpy ride after Powell announced new Fed’s measures, coming under increased pressure after markets digested news.
New…
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Bulls are on track for eventual clear break of key Fibo barrier
Cable is up 0.65% in early Friday, signaling bullish continuation after Thursday’s long-legged Doji, as markets digested news from Fed.
Bulls hit new highest since mid-Dec 2019 and on track for eventual close above important Fibo barrier…
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Aussie extends gains to new nearly two-year high as greenback accelerates lower after Powell
AUDUSD
The Australian dollar extends rally into fourth straight day and cracked 0.7300 barrier, hitting new highest level since Dec 2018.
Fresh risk appetite after Thursday’s Fed Powell’s announcement deflated the greenback and lifted…
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Fresh bearish acceleration emerges after strong rejection at key 107 resistance zone
The pair fell sharply in Asia / early Europe on Friday (down 0.5%), following strong rejection on pivotal 107.00 resistance zone (13 Aug high / falling 100DMA / base of thick falling daily cloud / 50% retracement of 109.85/104.18 fall).…
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Euro rises on weaker dollar after Fed, psychological 1.20 barrier in focus
Bulls regained control and lifted the Euro in early Friday’s trading, signaling eventual break out of five-day congestion.
Weaker dollar in post-Fed trading and month-end flows boost the single currency for repeated probe through falling…
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Fed’s new strategy inflate dollar but unlikely to spark stronger rally
The dollar fell across the board in immediate reaction to Fed Chairman Powell’s comments, but regained traction and returned above the levels it traded before the speech.
In its highly focused speech in Jackson Hole symposium, Powel…
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