Risk appetite inflates pound; Tuesday’s UK PMI data in focus for fresh signals
Bears pause above the top of daily cloud after falling 1.4% last week, as risk-sensitive sterling advance on fresh risk appetite on Monday.
Recovery attempts were so far limited by converged 30/55DMA’s (1.2420) as momentum remains negative…
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Optimistic comments fuel recovery by key obstacles still cap
The Australian dollar regained traction and rose near 0.6900 in Asia/Europe on Monday, fueled by comments from RBA Governor Lowe who said that rising currency (Aussie advanced over 20% vs US dollar in the period mid-March / Mid-June) is not…
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Bears take a breather after strong fall previous week
The Euro moves higher on Monday, as traders book some profits from last week’s fall, with corrective action also being signaled by daily stochastics’ reversal in oversold territory.
Strong bearish signals were generated on Friday’s close…
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Fresh optimism lifts oil price above $40 barrier again
WTI oil probes again through psychological $40 barrier on Friday after the first attack on 8 Jun failed.
Bullish sentiment was restored after completion of shallow $40.41/$34.33 pullback on renewed hopes of improvement in global demand,…
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Post-BoE negative sentiment remains in play despite upbeat UK retail sales
Cable extends weakness on Friday after recovery attempt on much better than expected UK retail sales were short-lived.
Near-term sentiment remains weak as Bank of England’s decision to increase QE program by 100 billion pounds and hints of…
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Pound falls further on BoE, rising safe-haven demand
Pound’s bearish stance firmed after BoE and increased demand for haven yen over rising geopolitical tensions.
The cross accelerated through important supports at 133.62 (converged 30/55DMA’s) and 133.28 (Fibo 61.8% of 129.29/139.73) and…
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Bears pressure again key Fibo support but risk of another rejection here exists
EURUSD
The Euro continued to move lower on Thursday, driven by soured risk sentiment over rising concerns of new coronavirus wave.
Bears attack again key support at 1.1212 (Fibo 38.2% of 1.0870/1.1422 / 17/12 June lows), where two…
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