Strong rebound extends after completion of reversal pattern
The cross extends strong rebound on Tuesday after Monday’s strong rally (the pair was up 1.03% and made the biggest one-day advance since 15 May) completed reversal pattern on daily chart.
Sterling was additionally hurt by UK GDP data…
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Cable remains in red on dollar’s rebound and UK GDP miss
Cable extends weakness on Tuesday following previous day’s strong fall (down 0.66% for the day) pressured by stronger dollar and UK GDP data miss (May 1.8% vs 5.5% f/c).
Strong rebound of dollar on rising virus cases that prompted…
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The dollar remains at the back foot on optimism over economic recovery
The dollar remains in red on Monday and probes again through cracked 200WMA (96.30), pressuring supports at 96.18/16 (Fibo 76.4% of 95.68/97.78 / last Thursday’s low).
Larger downtrend remains intact, with past three weeks action in red…
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Recovery is seen as positioning for fresh weakness
The pair bounces above 107 on Monday after last week’s fall was strongly rejected at 106.63 on Friday and failed to close below cracked Fibo support at 106.87 (61.8% of 106.07/108.16).
The action is supported by rising bullish momentum and…
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Bulls regain traction but need further signals for extension
The Euro extends recovery on Monday following Friday’s positive close after the action was contained by daily Tenkan-sen for the fourth straight day.
Fresh advance partially offsets negative impact from last week’s bull-trap and turns…
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Initial signs of recovery stall are developing on daily chart
Thursday’s risk aversion-inspired bounce from one-month low (96.16), extended on Friday but gains were capped by falling 10DMA /50% retracement of 97.78/96.16 bear-leg.
Subsequent easing is generating initial signal of recovery stall, but…
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Reversal pattern is forming on daily chart and threatening of deeper pullback
Cable stands at the back foot on Friday but pullback from new three-week high (1.2669) was so far contained by Fibo 23.6% retracement of 1.2251/1.2669 upleg / 5DMA (1.2570).
Risk sensitive pound was strongly pressured by fall in stock…
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Fresh bears are pausing above strong supports and awaiting signal
The Euro extended weakness on Friday, following strong upside rejection and subsequent fall, driven by risk aversion on Thursday.
Fresh bears face headwinds at 1.1268/57 zone (converged 10/20/30DMA) and pausing here in early European…
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