Break of trendline resistance opens key 1.30 resistance zone
Fresh advance in European trading on Tuesday eventually broke above trendline resistance (1.2966), opening way for renewed attack at key 1.30 resistance zone.
Better than expected UK construction PMI data (Nov 45.3 vs 44.5 f/c) contributed…
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Bulls consolidate under pivotal barriers; daily cloud underpins the action
The Euro maintains firm tone and holding above thick daily cloud on Tuesday, following 0.51% rally on Monday (the biggest one-day advance since 17 Sep) after downbeat US manufacturing data deflated dollar.
Bulls approach pivotal barrier…
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Aussie extends advance after RBA kept rates at record low
The Aussie dollar rallied further in Asian session on Tuesday after the Reserve Bank of Australia kept interest rates unchanged at record low 0.75%
Fresh advance extends previous day’s 0.75% rally, sparked by upbeat China’s data, with…
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Conflicting data and studies keep near-term action neutral
The pair is holding in directionless mode on Monday (within the range of last Friday) as dollar was inflated by fresh risk appetite, but lira was also boosted by strong Turkey’s GDP data which showed that the economy returned to growth in…
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Oil rises after Friday’s heavy losses but recovery remains below key barriers for now
WTI oil price is up 1.5% on Monday, recovering after last Friday’s 5% drop (the biggest one-day fall since 17 Sep).
Oil was hit by fears that trade talks would be disrupted and conflict would escalate, following US support to Hong Kong…
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Fresh risk mode elevates dollar for eventual attack at psychological 110 barrier
The pair ticked higher on Monday and hit new high at 109.72 (the highest since 30 May), ignoring negative signals that developed on daily chart (last Thursday’s hanging man candle and Friday’s Doji with long upper shadow.
Stronger than…
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Bulls so far unable to capitalize from strong bullish weekly close
Cable holds within tight range in Europe on Monday, lacking strength for further advance despite last week’s bullish close and marginally above thin weekly cloud, which limited the action of past six weeks.
Near-term action remains above…
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Repeated failures at key sup/res levels keep the pair in directionless near-term mode
The Euro stands at the back foot in early Monday’s trading following strong downside rejection on Friday, as short-lived probe below key 1.1000/1.0989 support zone left daily candle with long tail.
Attempts to extend recovery were capped…
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Recovery rally on upbeat Chinese data tests daily cloud
The Aussie jumps in early Monday’s trading, supported by upbeat Chinese data (Caixin Manufacturing PMI Nov 51.8 vs 51.4 f/c) which showed that Chinese factory activity expands at the fastest pace in three years.
Fresh recovery sidelined…
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Near-term risk shifts lower after another recovery failure
Cable stands at the back foot on Friday after Thursday’s action ended in bearish candle with long upper shadow and signaling another recovery rejection.
Pound is losing traction as positive sentiment on optimistic polls (You Gov showed…
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