Bulls take a breather but remain in play while daily cloud top contains dips
The Euro edges lower in early Monday’s trading as bulls enter consolidation after record 4% weekly advance last week.
Traders took some profits and overbought stochastic also points to consolidative / corrective action before bulls…
Read More...
Read More...
Breaking: US University of Michigan consumer sentiment falls to 89.1 in March
University of Michigan surveys of consumer sentiment slumps in March to the lowest since October 2016.
Read More...
Read More...
Breaking: Bank of Canada cuts key policy rate by 50 basis points to 0.25%
Bank of Canada lowered key policy rate from 0.75% to 0.25% on Friday. The central bank intends to provide support to the financial system and the economy during coronavirus pandemic. BOC says Governing Council stands ready to take further…
Read More...
Read More...
For FX traders, this crisis is unique – Reuters
For those trading major FX markets, this crisis is unique. There have been some big swings but no clear move in one direction across major currencies and no sustained demand for perceived safe assets.
Sterling collapsed and then bounced…
Read More...
Read More...
Euro is consolidating between daily cloud top and 200DMA
The Euro dips below 1.10 handle on Friday after earlier upticks were capped by 200DMA (1.1081).
The pair rallied 1.3% on Thursday, making the biggest daily advance since 12 Jan 2018 and generated bullish signal on close above daily…
Read More...
Read More...
Bulls are pausing ahead of $1700 target, on track for the biggest weekly gains in nine years
Spot gold eases on Friday, taking a breather after bulls failed to clear Fibo barrier at $1643 (76.4% of $1703/$1451 fall) on first attempt.
Overall picture remains positive as the yellow metal advanced nearly 8% this week and on track for…
Read More...
Read More...
Dollar index dips through key supports after downbeat US jobless claims data
The dollar index accelerated lower on Thursday, extending steep pullback into fifth straight day.
Fresh weakness broke below key supports at 100.28/00 (Fibo 38.2% of 94.59/103.80 rally / psychological), generating strong reversal signal.…
Read More...
Read More...
Bulls face headwinds from psychological 1.20 level but key Fibo barrier at 1.2093 is still in focus
Cable stands at the front foot in European trading on Thursday, following bullish signal on previous day’s close above 1.1832 (Fibo 23.6% of 1.3199/1.1409) but bulls face headwinds on approach to psychological 1.20 barrier, with near-term…
Read More...
Read More...
Extended recovery penetrates daily cloud and focuses key barriers
The Euro extends recovery into fifth straight day, with bullish signal generated on Wednesday’s close above 1.0838 Fibo barrier (23.6% of 1.1494/1.0635).
Fresh advance cracks the base of thick daily cloud (spanned between 1.0930 and…
Read More...
Read More...