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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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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