Cable stands at the back foot ahead of BoE
Cable extends weakness for the third straight day and probes through pivotal support at 1.2530 (Fibo 38.2% of 1.2074/1.2813, pressuring 20DMA (1.2503) which previously contained pullback from 1.2813 (10 June high).
Fading bullish momentum…
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Weak jobs data add to negative tone; rising 20DMA is key support
The Australian dollar remains in red on Thursday as lower Asian stocks weighed, and weak Australia’s jobs data added to negative tone.
Unemployment rate jumped to the highest in nearly two decades (7.1%) in May and employment fell for a…
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Oil price remains constructive despite another rise in US crude stocks
WTI oil jumped over half a dollar in immediate reaction on release of US weekly crude inventories data which showed a build of stocks by 1.2 mln bls, which is above forecast for 0.1 mln bls build but well below last week’s 5.7 mln bls rise.…
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Euro pressures pivotal support as risk mode fades on rising geopolitical tensions
The Euro remains in red for the second day and retests pivotal 1.1212 support, threatening of break lower that would signal reversal.
Fresh move into safer assets due to rising geopolitical tensions pressure Euro, while US hosing starts…
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Double-Doji signal indecision as recovery lacked momentum after emerging above daily cloud
The pair extends directionless mode into third straight day, remaining above daily cloud top (107.25) but double-Doji candles (Mon/Tue) signal strong indecision.
Near-term picture improved after last week’s steep fall was contained by…
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