Dollar is set to extend weakness in August
Bears are pausing above new 26-month low on Friday, but dollar index remains in a free fall, as Fed’s pledge to continue to support the economy, hit by strong rise in new coronavirus infections, did little to reduce bears’ pace.
The dollar…
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Weekly close above 1.30 to confirm strong bullish stance and focus 2020 high
Cable is establishing above 1.31 handle on Friday and eyes targets at 1.3212/43 (2020 high / Fibo 61.8% of 1.4376/1.1409) after bulls easily broke strong barriers at 1.3000/17 (psychological / Fibo 76.4% of 1.3514/1.1409) on Thursday.…
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Bulls eye psychological 1.20 barrier but consolidation may precede final attack
The Euro cracked 1.1900 barrier in early Friday’s trading and hit the highest in over two years after Thursday’s close above key Fibo barrier at 1.1822 (61.8% of 1.2555/1.0635) generated strong bullish signal.
Bulls turned focus to…
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Oil price falls on growing concerns about global demand outlook
WTI oil price slipped on Thursday, despite strong and unexpected fall in crude inventories, as rising coronavirus cases weigh heavily on global demand outlook.
Disappointing economic data point to bigger than expected contraction of global…
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Bulls look for renewed attack at 1.3017 Fibo barrier after consolidation
Cable is consolidating under new nearly five-month high at 1.3013, posted on Wednesday’s initial probe through psychological 1.30 barrier.
Today’s action so far showed shallow dip, keeping immediate focus at 1.3017 Fibo barrier (76.4% of…
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Bulls are taking a breather after 1.1800 barrier resisted first attack; US data in focus
The Euro showed minor reaction on disappointing EU GDP data (Q2 -10.1% from -2% in Q2 and below 9% f/c) but remains at the back foot on Thursday.
Fed’s comments slightly dented risk sentiment and prompted investors to book some profits…
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Aussie pulls back after bulls failed at 0.7200 barrier on first attempt
The Australian dollar pulls back from new 15-month high (0.7196) as traders took profits after bulls failed to break 0.7200 round-figure barrier.
Stronger than expected drop in Australia’s export and imports in Q2 and record coronavirus…
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