Upside rejection and subsequent fall warn that recovery is losing traction
Today’s strong upside rejection at 107.52 (100DMA and just under pivotal Fibo barrier at 107.58) and subsequent strong fall, weakened near-term structure.
Unsuccessful probe above 55DMA which capped four attempts in past few days,…
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EURGBP falls to one-week low
EURGBP
The cross fell sharply on Monday (down 0.8% for the session) as sterling rallied across the board, being the top winner of European session.
Monday’s action repeated strong upside rejection from Friday, forming the second daily…
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Oil price eases on new virus cases but so far holding above $40 pivot
WTI oil near $40 support in early Monday (down 1.3% for the session) as rising number of coronavirus globally sours the sentiment.
Cautious optimism over ongoing talks about EU recovery fund, aiming to revive pandemic-affected bloc’s…
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Aussie continues to face headwinds at 0.70 zone; RBA minutes on Tuesday in focus
The Australian dollar holds positive tone but faces difficulties to clearly 0.70 barrier and stays within narrowing range around 0.70 for the fourth day.
Global rise in new coronavirus cases that fuels uncertainty and fades optimism for…
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Cable edges higher after daily cloud contained dips but remains within 4-day congestion
Cable jumped on Monday, dragged by stronger Euro and weaker dollar, following last week’s double failure to penetrate daily cloud.
With the downside being so far protected by cloud top (1.2538) and Fibo 38.2% of 1.2251/1.2669 / rising…
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Bulls focus 2020 high, boosted by optimism in EU talks
The Euro jumped to new 4 ½ month high at 1.1466 on Monday, maintaining positive tone from last week (up 1.09% for the week).
The sentiment was boosted by hints of progress in talks between EU leaders which extend into third day, in…
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The Euro stands at the front foot ahead of key EU summit decision
EURUSD
The Euro regained traction and probes again above former high at 1.1422 on Friday, following strong upside rejections and failures to close above 1.1422 barrier.
The action in past two days left daily candles with long upper…
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The dollar remains firmly in red after US data and looks for repeated attack at key support
The dollar index accelerated lower on Thursday after data showed stronger than expected rise in retail sales in June, Philly Fed Manufacturing index beat expectations and continuing jobless claims falling further and holding below 20…
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