Extended sideways mode looks for direction signals
The Euro trades in a narrow range in European session on Monday, extending larger directionless mode into second week.
Slight negative bias is expected while the price action stays below bearishly-aligned daily MA’s, but other studies are…
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Cable fell to seven-week low on negative rates / trade talks concerns; psychological 1.20 support…
Cable is consolidating above new seven-week low (1.2074) posted overnight, extending weakness after last week’s nearly 2.5% fall.
Friday’s long bearish candle (the pair was down 1.2% for the day) weighs, as weekly close above pivotal…
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Euro jumps on weak US data but remains within larger range
The Euro rose to the session high at 1.0851 and cracked 20DMA (1.0845) after terrible US data smashed dollar.
US retail sales suffered their deepest monthly fall on record in April (-16.4 vs -12% f/c and -8.4% in March) due to coronavirus…
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Cable could drop to 1.20 on break of key supports at 1.2174/64
Cable is holding in red on Friday and continues to pressure key supports at 1.2174/64 (Fibo 38.2% of 1.1409/1.2647 / five-week range low) which were dented on previous day.
Sterling is under strong pressure by extended lockdown that caused…
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Bulls approach critical barriers, on track for third strong weekly rally
WTI oil price rose above $28 on Friday, approaching key barriers at $29.05/10 (daily cloud base / Fibo 38.2% of $65.63/$6.52).
Improved sentiment on gradual easing of lockdown measures, re-start of China’s economy and signs of further…
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Bears look for final break of pivotal supports at 1.0795/66
The Euro bounced above 1.08 level after hitting new one-week low at 1.0774, just ticks ahead of pivotal 7 May low at 1.0766.
Slightly softer dollar stands behind the latest jump, but outlook for the single currency remains negative.
US…
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Near-term action on course for the second Doji on conflicting fundamentals
The pair eased in early US trading on Thursday as smaller than expected, although near the highest levels US jobless claims, offset dollar’s positive tone on President Trump’s earlier support to strong US currency.
Near-term action…
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