Another bull-trap sparks fresh acceleration lower
The pair accelerates lower on Wednesday, as Tuesday’s Doji signaled recovery stall and bulls got trapped again on probe above falling 10DMA.
Fresh weakness pressure cracked pivotal support at 106.87 (Fibo 61.8% of 106.07/108.16), with…
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Dollar falls to one-month low on rising risk appetite
The dollar fell to one-month low against the basket of major counterparts on Wednesday, as signs of progress in production of Covid-19 vaccine and rally in US equities, strongly boost risk sentiment.
Bears broke through the last obstacle…
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Break of 1.1422 barrier exposes 2020 high; potential dips to offer opportunity for re-entering…
The Euro cracked June high (1.1422) and hit new four-month high in early Wednesday’s trading.
Hopes that EU leaders will agree on recovery plan in the summit (17/18 July) and SNB’s intervention this week, inflate the single currency.…
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Concerns of slowdown in global demand recovery pressure oil price
WTI oil remains at the back foot on Tuesday and establishes below $40 level, as sentiment weakened on news of new restrictions in California due to increased number of infections.
Rising concerns that this would have stronger…
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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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