Risk of stall under 200DMA persists
The Euro is trading within narrow range in European session on Thursday, holding below psychological 1.10 barrier (also Wednesday’s high).
Negative impact from weaker than expected German Manufacturing PMI (May 36.8 vs 39.2 f/c) was…
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Extended rally penetrated daily cloud and eyes 200DMA
The Euro hit new highest in nearly three weeks on Wednesday as proposal by France and Germany for a common fund increased demand for the single currency, with weaker dollar underpinning the advance.
The pair penetrated thick daily cloud…
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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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