Not as bad as expected UK GDP slows bears
Cable edged higher after UK GDP data came not as bad as expected (March -5.8% vs -8% f/c / Q1 -2% vs -2.5% f/c) but remains within daily cloud, which was eventually penetrated on Tuesday after two unsuccessful attempts.
Cloud is narrowing…
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Cross attempts to break out of two-week range and generate initial reversal signal
The cross rose on Tuesday as Euro advanced after weaker than expected US inflation data further deflated dollar.
Fresh strength pressures the upper boundary of two-week range, reinforced by 55DMA (0.8824), with clear break here needed to…
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Aussie jumps after repeated downside rejection but remains within three-day congestion
The Australian dollar accelerated above 0.6500 barrier in European trading on Tuesday after dropping to session low at 0.6432 in Asia on news that China halted some beef imports from Australia.
The pair is moving between 10DMA (0.6475) and…
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Pullback is testing key supports
The USDTRY extends pullback from new all-time high into fourth day as traders took profits from the latest rally and actions from local banks to help lira also contributed.
Extended dip cracked key supports at 7.0000 zone (rising 20DMA /…
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Daily cloud continues to obstruct downside attempts
Cable remains in directionless near-term mode and ranging between converged DMA’s (10/20/30/55) and daily cloud top.
Repeated probe into daily cloud today was short-lived, as lower 20-d Bollinger band (1.2260) continues to limit.
Mixed…
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Bearish bias below falling 20 DMA
The Euro edged higher in early European session trading on Tuesday following another failure to clearly break Fibo support at 1.0795 (76.4% of 1.0727/1.1017 upleg).
Recovery attempts were so far limited due to lack of momentum on 4-hr…
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Prevailing tone on Monday is negative but cable continues to move within four-day range
Bumpy ride for cable at the beginning of the week, as the pair hit session high at 1.2437 (barrier formed by converged 30/20/10/55DMA’s) and subsequently fell to 1.2283 on uncertainty about models of easing Britain’s lockdown, pessimism…
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News of further production cut maintain optimism but fears of fresh corona infections weigh
WTI oil rose $1.5 on Monday after Saudi Arabia announced that it will further reduce the output by one million bpd.
Oil price holds in green for the second day and fresh advance signals that shallow pullback from new recovery high ($26.71)…
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Short squeeze could extend to key barriers
Dollar advances vs yen on Monday, holding in green for the third straight day and penetrating deeply into daily cloud (106.70/107.88) which marked strong resistance.
The greenback enjoys support from many countries re-opening after…
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