Fresh bearish extension increases downside risk
Strong bearish acceleration in European session on Friday was sparked by downbeat
PMI data of the eurozone the biggest bloc’s economies that pointed to the slowdown of recovery in August.
The data soured risk sentiment, sending the single…
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Dollar regains traction but more action higher needed to signal stronger correction
The dollar regained traction on Friday and cracks initial barriers at 93.16/22 zone (20DMA / Thursday’s high / Fibo 61.8% of 93.87/92.09).
The sentiment remains soured by Fed’s dovish stance and fresh increase in jobless claims that adds…
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Cable rose after strong data by was deflated by fresh Euro’s weakness
Cable probed again through pivotal Fibo barrier at 1.3243 (61.8% of 1.4376/1.1409) and approached new 2020 high (1.3266), inflated by better than expected UK retail sales data, but failed to break higher.
Upbeat UK PMI’s should also…
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Bears hit five-week low and pressure key supports
The cross extends steep fall into second straight day (was down 0.7% on Thursday) and hits five-week low (0.8943) in early Friday’s trading.
Bears approach pivotal supports at 0.8942/37/33 (daily cloud base / 10 July low / 100DMA), break…
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Deeper correction before final attack at 1.20 barrier is seen as likely scenario
The Euro edged lower in early European trading on Friday, turning focus again at key support zone between 1.1825 and 1.1811 (broken Fibo 61.8% / converging 10/20DMA’s) which contained downside attempts on Thursday.
Wednesday’s bearish…
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Quick drop on negative news was so far short-lived
WTI oil price fell almost $1 on Thursday after OPEC+ announced daily oversupply of more than two million barrels and US weekly jobless claims unexpectedly rose, warning of slowdown in economic recovery that would hurt oil demand.
However,…
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Gold remains in red after Wed’s strong fall and pressures key support at $1920
Spot gold remains under pressure on Thursday following 3.7% fall previous day, as subsequent recovery attempts from one-week low at $1924 stalled and metal’s price fell back near Wed-Thu lows ($1924).
Dovish Fed and likely scenario in…
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Aussie extends pullback on fading risk sentiment and new trade issues with China
The Australian dollar remains in red for the second day and extends weakness to one-week low at 0.7144.
Dovish Fed’s outlook on US economy hurt risk sentiment, sending the Aussie down 0.85% on Wednesday.
The latest news that Australia…
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