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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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.…
Read More...
Read More...
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…
Read More...
Read More...