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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Bears regained control after short-lived recovery; weaker than expected UK PMI data also weigh
Cable returned to weakness in early Europe and fell below Asian session low (1.2770) after overnight recovery attempts stalled at 1.2850.
The pair remains in red following last week’s 1% fall on risk aversion, with bearish signal on…
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Fresh bullish extension is attracted by cloud twist and pressures 200DMA
The Euro rises further in early Monday’s trading, maintaining strong bullish tone, following last week’s nearly 2% advance.
Rising expectations of Fed rate cut deflate dollar and keep the single currency supported, with additional boost…
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Bulls extend above 1.10 after 1% rally on Thursday
The Euro extends advance and broke above 1.10 barrier on Friday, following strong rally on Thursday (the pair was up over 1% in the biggest one-day gains since 5 Aug).
Dovish shift from Fed that raised expectations for rate cut, deflated…
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