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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Limited recovery keeps in play risk of retesting key 1.10 support zone
The Euro is holding within narrow range in early European trading on Friday after recovery attempts from key 1.10 support zone stalled.
Downbeat German retail sales were offset by jobs data which showed significant drop in unemployment,…
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Bulls consolidate after strong rally; psychological 110 barrier comes in focus
The pair consolidates below new multi-month high at 109.60, posted on Wednesday after 0.5% advance (the biggest one-day rally in November).
The greenback rallied after upbeat US data on Wednesday and strong bullish acceleration resulted…
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Expectations for Tory’s big election majority boost pound
Cable extends advance on Thursday after repeated rejection at 1.2320 Fibo support (23.6% of 1.2197/1.3012) on Wednesday.
The latest report from YouGov polls showed the biggest Tory majority in over three decades that further boosted…
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Bears are deflated by fresh risk aversion and taking a breather above key support zone
The Euro moved higher in Asia/early Europe on Thursday, following previous day’s dip that cracked key Fibo support at 1.0993 and registered marginal close below psychological 1.10 support, but failing to clearly break lower.
Fresh risk…
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Bears crack key support zone on fresh acceleration after upbeat US data
The Euro cracked psychological 1.10 support and pressures other key supports at 1.0993 (Fibo 61.8% of 1.0878/1.1179) and 1.0989 (Nov low) on fresh acceleration lower after better than expected US data.
US GDP data showed that economy…
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Recovery accelerates after upbeat US data and pressures key Fibo barrier
The pair rallies for the fourth straight day after forming the base at 5.6848 (20/21 Nov lows, also low of 4 Nov).
Strong recovery generated several bullish signals on break above the cluster of daily MA’s and penetration of daily cloud.…
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Cross price dips towards range floor on stronger pound
The pound advanced in European trading on Wednesday, sending the cross price lower after the upside attempts in past few sessions were repeatedly capped by falling 20DMA (the price action holds below 20DMA since 10 Oct).
Fresh weakness…
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Bullish signal on break above 200DMA but daily techs warn of recovery stall
The pair maintains firm tone, additionally boosted by fresh optimism on positive comments over trade talks from President Trump.
Bounce from 108.25 higher base reached Fibo 76.4% of 109.48/108.27 pullback and generated bullish signal on…
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