Aussie hit new multi-year low after downbeat Chinese data
The Aussie dollar started trading on Monday in red after suffering heavy losses previous week (down 6.2%), coming under increased pressure from downbeat Chinese data.
China’s economy slowed down sharply in February following Corona virus…
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Gold collapses below $1500, down 6% since opening on Monday
Spot gold price collapsed through round-figure $1500 support and 200DMA ($1497) on Monday, extending steep fall into sixth consecutive day.
Recovery attempt after Fed rate cut proved to be short-lived and the greenback regained traction,…
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Cable returns to red after short-lived positive impact from Fed’s rate cut
Cable returned to red and fell back to last Friday’s low (1.2259 (the lowest since 10 Oct) as strong negative sentiment continues to dominate and Fed’s overnight action that deflated dollar made little impact on pound.
Massive bearish…
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Euro bounces after Fed action and bear-trap formation
The Euro rose on Monday, recovering from last week’s heavy losses (the pair was down 2.1% for the week), boosted by Fed’s overnight action of cutting interest rates by 100 basis points and bringing them to zero, in attempts to cushion…
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Dow rebounds after the worst day in over three decades
The Dow Jones rebounds on Friday after suffering heavy losses previous day (11% down) in its worst day in over three decades.
Rise of European stocks boosted the Wall Street on Friday, along with improved sentiment on rising…
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WTI holds directionless near-term mode but risk remains shifted to the downside
WTI oil price remains within this week’s range ($27.67/$36.58), established after early Monday’s crash, when oil prices collapsed to 4-year low on signs of price war between two key oil producers – Saudi Arabia and Russia.
Traders showed…
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Bears take a breather after RBA’s intervention but risk remains at the downside
The Aussie is consolidating after nearly 3% fall on Thursday that pushed the price to new 11-year low (0.6211), in the biggest one-day fall since 6 Feb 2019.
Easing of extreme risk aversion after the RBA intervened earlier today by…
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Fresh advance surges through important barriers as dollar regains traction
The dollar regained traction and rallied on Friday after Fed injected liquidity and improved the sentiment.
Fresh advance surged through important Fibo resistance at 105.40 (38.2% of 112.22/101.18) which limited the action in past three…
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Bears are pausing above key Fibo support but outlook remains negative below 200DMA
Bears are taking a breather after suffering heavy losses in past three days, sparked by panic on corona virus pandemic and BoE’s unexpected rate cut in attempts to handle the crisis.
Thursday’s close below 200DMA (1.2703) was strong…
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Euro is consolidating after 2.5% fall; the downside remains at risk while the action holds below…
Consolidation follows 2.5% fall in past three days, contained by Fibo support at 1.1052 (61.8% of 1.0778/1.1494 ascend. Recovery attempts struggle to clear initial barrier at 1.1200, with limited upside action expected as long as pivotal…
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