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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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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