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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Sterling falls to two-week low vs Euro as sentiment sours further
The cross jumped nearly 1% in European trading on Tuesday, as pound’s sentiment weakened.
Rising coronavirus death toll in UK and signals that lockdown will extend for at least three more weeks, add to negative mood, along with UK jobs…
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June WTI oil drops below $20 and keeps firm negative tone after May’s contract made historical…
WTI oil future contract for June delivery fell below $20 on Tuesday, following Monday’s 14% fall after May contract dropped below zero and reached minus $40 per barrel at one moment, in a historical movement, never seen since the contract…
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Cable may extend pullback on close below 20DMA, weighed by weak UK jobs data / stronger dollar
Cable remains at the back foot on stronger dollar and extended weakness to the lowest since 9 Apr to pressure rising 20DMA (1.2382) in early European trading on Monday.
UK jobs data showed that employment growth slowed in March, average…
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Near-term risk shifts lower after repeated upside rejections
The Euro edges lower in early Tuesday’s trading and probes again through cracked Fibo support at 1.0831 (61.8% of 1.0635/1.1147 upleg) after Monday’s action was repeatedly capped by 10DMA / broken bull-trendline drawn off 1.0635 low.…
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Breaking: WTI Oil price turns negative for the first time in history
WTI oil for May delivery fell into negative territory for the first time in history in late US trading on Monday.
Since WTI contract began trading on the NYMEX exchange in April 1983, the lowest it had ever gotten to before this was $9.75…
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Cable eases on Monday but remains within three-day range and without clear near-term direction
Cable edged lower on Monday, pressured by rising coronavirus death toll and no signs of any easing of the lockdown.
The pair is currently holding at the lower side of congestion that extends into third day and probes below rising 10DMA…
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