Oil price in recovery mode but stronger positive signal could be expected on regain of $20 level
WTI oil price remains in green on Thursday and attempts to extend recovery from the record low posted after Tuesday’s crash.
Signs that producers are cutting output in reaction to collapsed demand on coronavirus lockdown and…
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Sterling remains at the front foot despite weak UK data and looks for recovery extension
The British pound stayed afloat above 1.2300 round-figure support and bounced towards Wednesday’s recovery high at 1.2385, showing minimal negative reaction on significantly weaker UK PMI data for April (Manufacturing 32.9 vs 42…
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Euro breaks four-day range floor after downbeat PMI data
The Euro extended weakness through 1.08 handle and hit two-week low (1.0784) on Thursday.
Near-term structure weakened after Wednesday’s eventual close below important Fibo support at 1.0831 (61.8% of 1.0635/1.1147 upleg) which generated…
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Turkish lira falls to the lowest from Aug 2018 as CBRT surprises by 1% rate cut
The pair rose ticks ahead of psychological 7.00 barrier on Wednesday, hitting the highest levels since mid-Aug 2018, when it reached all-time high.
Turkish already passed the levels beyond which there is no return and today’s aggressive…
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Slight bullish alignment but more work needed for eventual exit from week-long range
The pair holds slight bullish tone on Wednesday and attempts to break out from seven-day 107/108 zone range, where the action was stuck on safe-haven demand for both currencies.
Wednesday’s action is holding in the upper side of the…
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Brent oil falls to the lowest since 1999 on panic over supply glut and a lack of storage
Brent oil fell to the lowest since 1999 on Wednesday as extension of previous day’s 25% fall probed below $16 per barrel.
Brent oil price managed to stay afloat above $20 level in past few days after US shale oil slumped into…
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Fresh bounce after repeated downside rejections generates initial reversal signal
Spot gold price rose above $1700 mark on Wednesday as global stocks are in defensive, prompting investor into safer assets.
The price is gaining positive momentum after pullback from new multi-year high at $1747 repeatedly failed to make a…
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Bounce from new two-week low needs to regain 20DMA for initial reversal signal
Cable bounces from new two-week low (1.2247) in early European trading on Wednesday following previous day’s 1.3% fall, driven by risk aversion.
Falling 30DMA contained Tuesday’s dip, guarding key supports at 1.2174/64 (Fibo 38.2% of…
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Directionless mode extends but strong dollar weighs on single currency
The Euro holds in directionless mode for the fourth straight day, trading between Fibo support at 1.0831 (61.8% of 1.0635/1.1147) and 10DMA (1.0895).
Doji candles of Tue/Mon add to signals of indecision, but near-term action…
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Extended range likely to precede fresh attack at key supports at 106.92/70
The pair regained traction and jumped from the lowest of the day at 107.28 to hit daily high at 107.82, but the action remains within narrow range which extends into fourth day.
Falling 10DMA continues to cap for past six days, with…
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