Extended sideways mode expected while 20DMA holds
Cable edged lower in early US trading on Monday but remains positive for the day.
Near-term action holds above 20 DMA for the second day, underpinned by formation of 10/20DMA’s bull cross that reduces negative impact from Friday’s…
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Oil price regained traction but needs more signals for further recovery
WTI oil regained traction and rose above $28 mark in European trading on Monday, following gap-lower opening in Asia.
Oil started week at $26.07 after closing on Friday at $28.73, as traders feared further deterioration of the conditions…
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Bears are taking a breather but near-term outlook remains negative
The Euro consolidating within 1.0783/1.0835 range after six straight days of losses (the pair was down 2.5% last week) but maintaining bearish bias as today’s action stays capped by broken key Fibo support at 1.0835 (61.8% of…
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Yen fell to one-week low vs dollar as Japan’s government is expected to declare a state of…
The pair is holding in green for the third consecutive day and accelerated higher on Monday, to post new one-week high at 109.37.
The yen was sold on Monday as Japan’s government is expected to announce a state of emergency in response…
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WTI oil extends recovery on optimism of OPEC+ agreement for significant production cut
WTI oil price rose to new highest level since 17 Mar ($28.53) on Friday, in extension of previous day’s strong rally, driven by renewed optimism on expectations that main oil producers will agree to make significant production cut.
OPEC+…
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Shocking fall in payrolls comes as logical continuation of very negative claims; dollar remains firm
The dollar keeps bullish tone although the action after release of US jobs data is holding with quite narrow congestion as markets digest the shocking release.
Again, there was no big surprise on seven times more negative payrolls data…
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Breaking: US Non-Farm Payrolls at shocking -701K in March
US Non-Farm Payrolls fell to record -701K in March vs -100K forecast and upward-revised Feb figure at 275K.
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Aussie dips below 0.60, weighed by strong demand for the greenback
The Australian dollar fell below 0.60 handle on Friday, extending weakness into fourth day, pressured by broader US dollar gains, with low volumes accelerating Aussie’s negative action.
Break below 10DMA (0.6036) and 0.60 support increases…
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Oil prices rose after pullback as optimism of reaching deal prevails
WTI oil regained traction and rose to session high at $26.98 in European trading on Friday, as positive sentiment prevails on fresh hopes of Saud-Russia deal.
Oil prices surged over $5 on Thursday on news that deal is likely to…
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Bears regain control and threaten ending consolidation phase
Cable weakened in European trading, following downbeat UK data which showed Composite and Services PMI’s dropping to its record lows in March (Composite 36.0 from 53.0 and Services 34.5 from 53.2) which showed that negative impact to the…
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