Weak inflation data pressure pound after thin daily cloud capped recovery
Cable stands at the back foot on Wednesday and accelerated lower after data showed Britain’s inflation fell sharply in April, hitting the lowest since 2016, due to coronavirus shutdown.
This also turns focus towards possible introducing…
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The dollar index remains in red and could drop to 200DMA on close below daily cloud
The dollar index fell further on Tuesday, extending Monday’s 0.8% fall (the biggest one-day drop since 27 Mar).
The greenback weakened across the board on fresh risk demand, sparked by hopes that vaccine for coronavirus might be developed…
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Rally above daily cloud approaches key Fibo barrier / 200DMA
The pair jumped above thickening daily cloud on Tuesday and approaching pivotal barriers at 108.17/25 (Fibo 38.2% of 111.71/105.98 / 200DMA), with the action being boosted by fresh risk mode and exodus from safe havens.
Today’s extension…
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Bullish acceleration attacks key resistance zone
The Euro rose to two-week high (1.0956) on Tuesday, extending Monday’s 1% rally which generated bullish signal on eventual break from larger congestion.
Bulls cracked barriers at 1.0921/21 (Fibo 38.2% of 1.1017/1.0766 / 55DMA) and focus…
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Cable extends recovery despite terrible jobless claims but pivotal barriers stay so far intact
Cable extends Monday’s recovery, fueled by rise in global stocks and fresh risk appetite, to hit session high at 1.2267 (the highest since 13 May) in early European trading on Tuesday.
UK jobs data showed increase in employment and lower…
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Bulls regain traction but need close above daily cloud for initial positive signal
The pair holds bid tone on Monday as global gradual re-opening elevates risk that increases pressure on yen.
Fresh strength after three days in narrow range trading (held by 10DMA) probes above daily cloud which narrowed these days, but…
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WTI oil extends recovery above critical $29/$30 barriers
WTI oil price surged to new nine-week high at $31.81 on Monday, following break of critical barriers at $29/$30 (daily cloud base / psychological).
June contract, which expires on Tuesday, advanced over $25 on recovery from its $6.52 low…
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Gold shines on global recovery concerns and rises to new nearly 8 years high
Spot gold was a top performer in early Monday’s trading, advancing slightly over 1% since Asian opening and hitting new highest since Oct 2012, following break of previous high at $1747 (14 Apr).
The yellow metal holds in green for the…
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