Cable looks for more direction signals as recovery faces headwinds
Cable maintains positive tone on Wednesday and holding at 1.3050 zone, after better than expected UK labor data on Tuesday eased expectations for BoE rate cut and improved the sentiment.
Fresh bulls from Monday’s hammer candle low at…
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Recovery loses traction despite lowered production in Libya and Iraq
WTI oil price eases from he session high ($59.62), hit after gap-higher opening on Monday, on rising concerns about supply as unrest in Libya and protests of workers on oil installations in Iraq, reduced production in both countries.
Fresh…
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Aussie extends weakness on rising expectations for rate cut
The Australian dollar fell in European session to the lowest since 10 Jan, after brief recovery in Asia lost traction.
Fresh weakness comes in extension of Friday’s strong fall after bull stalled on Thursday and formed bull-trap reversal…
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Bears are taking a breather above key support but bias remains negative
The Euro is consolidating above key supports at 1.1079/72 (Fibo 61.8% of 1.0981/1.1239 / daily cloud top) but remains biased lower following upside rejection last Thursday (bull trap) and strong fall on Friday.
Rising bearish momentum on…
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Bears extend on fresh fears of hard Brexit
Cable remains in red in early Monday’s trading (opened with 18-pips gap lower in Asia) and extends weakness through thick daily cloud, following 0.5% fall last Friday.
Stronger dollar on upbeat US data last Friday keeps sterling at the…
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Sterling slumps after weak UK data and upbeat US figures
Cable extends weakness in the US session on Friday after being hit by weak US retail sales data that added to expectations of rate cut at the end of rge month’s BoE policy meeting, with additional pressure from upbeat US housing data…
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Swiss deflated by risk mode; reversal pattern forming on daily chart
The pair advances strongly on Friday after US-China trade deal provided relief and boosted appetite for riskier assets.
Reversal pattern is forming on daily chart after Thursday’s action was strongly rejected at the downside and…
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Solid China’s data inflate Aussie but price action is still within the range
The Australian dollar regained traction and advanced towards multi-day range tops, following strong upside rejection on Thursday after the price spiked to 0.6933 but subsequently reversed and closed in the middle of the range.
Solid…
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Initial signals of reversal generated after strong upside rejection
The Euro stands at the back foot in early Friday’s trading and returns below 200DMA (1.1135), adding to negative signal, generated on Thursday’s strong upside rejection which resulted in bearish daily candle with long upper shadow that…
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Firm tone ahead of UK retail sales data release
Cable ticked higher in early Friday’s trading and hit one-week high (1.3099) in extension of rally in past three days ahead of release of UK retail sales data.
Fresh recovery is underpinned by rising daily cloud which contained pullback…
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