Fresh weakness breaks below 200DMA which held bears for more than one week
The cross eventually broke below key support at 0.8746 (200DMA / Fibo 61.8% of 0.8281/0.9498 rally) which kept the action in past seven days, containing multiple attacks.
Fresh risk aversion pushed the Euro lower in the US…
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Oil price remains in red as fears of strong fall in demand outweigh output cut decision
WTI OIL
WTI oil price holds in red for the second day and fell to new over one-week low at $21.98 on Monday as overall sentiment remains weak.
OPEC+ group reached a deal to reduce output by 9.7 million bpd (approx. 10% of daily…
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Probes through key barriers risk another failure as fundamentals worsen
Cable regained traction and probed above 1.25 marks, cracking important Fibo barrier at 1.2516 (61.8% of 1.3199/1.1409) in lower-volume Easter Monday trading.
Bulls returned to play after pausing on Friday, with attempts through initial…
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Fresh weakness results in eventual break below 200DMA
The pair extended weakness to 1 ½ week low in early trading on Monday, as risk-off mode dominated in Asia as markets got disappointed by OPEC decision, expecting stronger action from the cartel
Fresh weakness broke below 200DMA (108.33)…
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Bulls are supported by fresh risk mode and eye key barriers
The Euro is maintaining positive tone and holding near new one-week high (1.0951) posted on Thursday and retested today in early European session.
The pair is moving within some 30-pips range in a quiet Good Friday trading.
Improved…
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Oil prices in choppy mode as markets digest the Saudi/Russia production cut agreement
WTI oil price jumped to $28.32 (session high and the highest in almost one week) after news that Russia and Saudi Arabia have overcome differences and basically reached a deal of production cut.
The talks of two sides faced big…
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Aussie rises on fresh risk appetite, stronger commodity prices and weaker dollar
The Australian dollar rose to new over three-week high on Thursday, riding on the wave of fresh risk appetite after Fed announced new stimulus of $2.3 trillion in attempts to cushion negative impact to the economy from crisis…
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Breaking: Russia and Saudi Arabia reached a deal on strong production cut
Russia and Saudi Arabia have managed to remove the main obstacles and agreed new deal on oil cuts.
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The dollar index falls on downbeat jobless claims and fresh risk appetite on US stimulus
The dollar fell against the basket of major currencies on Thursday after US jobless claims disappointed again, hitting the levels near historic high and Fed’s new stimulus, worth $2.3 trillion, boosted the risk appetite in the market.
The…
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Breaking: The UK economy could contract as much as 25% – NIESR
The National Institute of Economic and Social Research expects growth to decline by 5% in Q1 2020 and expects that the economy could contract by 15% to 25% in the second quarter if a lockdown continues.
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