Negative signal on repeated close below Fibo support/20DMA at 107.69
The pair is holding in directionless mode but below broken pivotal Fibo support at 107.69 (38.2% of 101.18/111.71 upleg, reinforced by 20DMA) following eventual close below here that generated bearish signal.
Tuesday’s strong upside…
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WTI pressures $20 pivot again on strong rise of crude stocks and falling demand
WTI oil price remains under pressure and retests $20 support after Tuesday’s recovery attempts stalled, capped by falling 5DMA, keeping the upside limited, as expected.
Oil prices registered the biggest quarterly and monthly fall in the…
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Aussie dips on risk aversion but still lacks clearer direction signals
The Australian dollar dips in early European trading, pressured by fresh risk aversion.
Triple failure to break falling 20DMA (currently at 0.6152) weighs and threatens recovery stall, however, fresh bears need more negative signals to…
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Mixed daily studies keep near-term action in directionless mode
Cable extended lower in early European trading on Wednesday but remains within the range of past two days which left two Doji candles, signaling indecision.
Weekly cloud continues to cap near-term action, but bears struggle to regain…
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Bears regain control after Tuesday’s strong downside rejection
The Euro remains in red and penetrated daily cloud again on Wednesday, after previous day’s action showed strong downside rejection and close above cloud top (also close above initial Fibo 23.6% of 1.0635/1.1147 support) of, leaving…
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Bears are pausing above $20 level before final break lower
WTI OIL
WTI future contract is consolidating above cracked $20 level after hitting new 18-year low on Monday.
Larger bears are pausing ahead of strong psychological support with limited recovery being so far capped by falling 5DMA…
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Near-term action is in red but so far with limited weakness
GBPUSD
Cable extended pullback on Tuesday after last week’s strong rally repeatedly capped by weekly cloud base, but weakness was tempered by better than expected data.
UK Q4 current account deficit narrowed from the previous…
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Close below key 1.0891 support would signal reversal
The Euro fell on Tuesday, extending the weakness of the previous day, pressured by increased demand for the US dollar at the end of month / quarter.
Monday’s bearish inside day was initial negative signal which materialized on today’s…
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Bears are pausing ahead of key supports
The dollar index edged higher on Monday as bears pause after nearly 5% fall last week (the biggest weekly loss since 2009) on rising uncertainty over prolonged global lockdown on coronavirus pandemic.
Fresh upside action could be seen as…
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WTI oil hits 18-year low on probe below psychological $20 support
WTI future contract opened with gap-lower on Monday and cracked psychological $20 support to hit new 18-year low at $19.90.
Mounting fears that global shutdown on coronavirus could last months and further slash demand for oil.
Low oil…
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