Near-term action to remain biased lower while recovery attempts are limited
The pair is trading within a range that extends into third straight day and moving around broken Fibo level at 107.69 (38.2% of 101.18/111.71).
Directionless near-term mode is supported by flat daily momentum and RSI, but a cluster of…
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Limited recovery warns of fresh weakness
EURUSD
The Euro holds in directionless, 25-pips range on Monday, with attempts to extend last Friday’s recovery remaining capped by 1.0891/99 (broken Fibo 50% of 1.0637/1.1147 ascend, reinforced by converged 5/10DMA’s and broken…
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Current correction seen as positioning as gold remains top safe-haven asset
Spot gold edged lower on Monday despite fading risk sentiment and hit one-week low but so far unable to clearly break pivotal double-Fibo support at $1678 (23.6% $1455/$1747 and 38.2% of $1567/$1747).
Overall picture remains bullish with…
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WTI oil in free fall, hits the lowest since 1999
WTI oil future contract for May accelerated lower in early Monday’s trading and hit the lowest since 1999 on over 16% fall during Asian / early European trading.
The sentiment remains very weak and traders continue panic selling…
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Gold’s safe-haven appeal fades on signals of US economy gradual restart
Spot gold extended pullback from new multi-year high ($1747) on Friday to initial support at $1683, marked by rising 10DMA.
Fresh bears were so far held here and the price edged higher on weaker dollar, but outlook remains negative and…
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Cable stands at the back foot but bears need confirmation on close below 10DMA
Cable fell to new one-week low at 1.2406 on Friday after attempts above 1.25 barrier stalled at 1.2522.
Firmer dollar which extends positive tone into third consecutive day, keep sterling at the back foot, after the UK government…
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Turkish lira remains under strong pressure and eyes $7 level and record low of 2018
The Turkish lira extends steep fall against dollar which has strongly accelerated in past three month.
The currency holds in red for the sixth straight day and eyes psychological 7.00 level.
Bears are likely to clear this barrier easily…
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Further weakness seen on close below key Fibo support as bull-trap weighs
The Euro holds in red for the third consecutive day and probes again below cracked strong Fibo support at 1.0831 (61.8% of 1.0635/1.1147) after Thursday’s attack failed to clearly break lower.
Stronger dollar weighs on the single currency,…
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WTI oil eventually breaks critical $20 support zone; no significant obstacles en-route to $10
WTI oil price eventually broke below critical $20 support zone and dipped to new lowest since Oct 2001 at $18.02 in European trading on Friday.
Weak China’s GDP data, released overnight, signaled that the economy of the world’s second…
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Bulls are on hold for consolidation / correction before resuming
Spot gold eased after dismal US jobless claims lifted dollar, showing further hesitation after strong rally in past few days hit the highest in nearly eighteen years and Wednesday’s trading ended in red.
It seems that bulls are pausing on…
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