Oil prices remain in red on China virus spreading fears and rise of US crude stocks
WTI oil extends weakness on Thursday after being hit by unexpected build in US crude stocks on Wednesday that adds to negative impact from China virus spreading fears.
The contract holds in red for the second day and is on track to fully…
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Near-term focus shifts lower but key support still hold
The pair extended weakness near daily cloud base (108.78) on Thursday, following strong upside rejection under key Fibo barrier at 109.32 (38.2% of 110.29/108.73) and bearish close within daily cloud on Wednesday.
Rising fears of China…
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Aussie extends weakness on rising China virus fears
The Australian dollar holds firmly in red and extended weakness to new low at 0.6722 on Thursday (the lowest since 10Oct).
China virus fears continue to weigh heavily on Aussie, which fell 1.2% this week and is on track for monthly fall of…
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Cable stands at the back foot but above key supports ahead of BoE rate decision
Cable moved lower in early European session and probed again below 1.30 support after holding within narrow range in Asia.
BoE policy meeting is key event today, with percentage for remaining unchanged being slightly higher from…
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Bears re-take control after recovery fades and build in US inventories adds to negative tone
Recovery from new over three-month low at $52.14 (sparked by unexpected fall in crude stocks (API report) and Yemen’s Houthi rebels taking responsibility for attack on Saudi oil installations) stalled on Wednesday and oil price fell on…
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Bullish alignment above daily cloud but Fed eyed for fresh signal
The pair holds in green and above daily cloud top after strong advance on Tuesday which in break and close above cloud, generating initial signal of daily Doji reversal pattern.
Today’s action is entrenched within narrow range and…
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Bears continue after taking a breather on Tuesday
The Australian dollar returned to weakness on Wednesday after the action on Tuesday ended in bullish long-tailed Doji which is usually seen as initial reversal signal.
Positive impact on slightly better than expected Australian CPI,…
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Bears attack 1.30 level again as sentiment remains weak ahead of key events
Cable remains in red on Wednesday despite hammer candle on Tuesday, weighed down by concerns about Britain’s future relationship with the European Union, as the country is leaving the Union on Friday.
Adding to uncertainty is mounting fear…
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Bears regain control and probe through key supports again ahead of Fed
The Euro was sold in early European session trading on Wednesday and probed again below important Fibo support at 1.1016 (61.8% of 1.0878/1.1239 ascend) following double failure to close below and generate strong bearish signal.
Fresh…
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Crude oil falls further after gap-lower opening as virus concerns weigh heavily
WTI oil price started the week with 130-pips gap lower and extended lower to the levels last traded in early Oct, pressured by concerns that virus spread could have strong negative effect on oil demand.
The price holding firmly in red for…
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