Bears pressure key $50 level but final break might be delayed for consolidation
WTI oil remains in red and extends to new six-month low ($50.66) on Monday, increasing pressure on psychological $50 level.
The sentiment remains extremely weak on persisting concerns about strong negative impact on global oil demand on…
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Bears are pausing above rising daily cloud
The Dow Jones bounces on Monday (up 0.77% from opening), recovering some ground after last Friday’s heavy losses (2.05% down for the day, the biggest one day fall in six months).
Fears of coronavirus spreading and rising death toll keep…
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Bears regain control after daily cloud limited recovery
The Euro accelerates lower on Monday after strong recovery last Thu/Fri (Friday’s advance was the biggest one-day rally in 2020), was limited by rising daily cloud.
Initial positive signal on Friday’s close above 1.1086/90 (Fibo 38.2% of…
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Fresh weakness signals false break above daily cloud
Cable opened with gap-lower and extended pullback on Monday, signaling that Friday’s probe above daily cloud top after impressive rally (0.83%), was a false break.
Initial optimism after the Britain officially exited the EU, started to…
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Turkish lira continues to weaken
The pair extends advance from 5.8382 (16 Jan trough) and pressures important barrier at 5.9875 (2020 high, posted on 8 Jan) on Thursday.
Completion of corrective phase (5.6875/5.8382) is expected to spark fresh extension of larger uptrend…
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Pound rallies above 1.31 barrier after BoE kept rates on hold
Cable jumped to 1.31 zone after BoE announcement, as the MPC voted 7-2 to keep interest rates unchanged at 0.75% on today’s policy meeting.
The central bank supported its today’s decision by pointing at post-election growth in the UK…
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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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