Gold hit new seven-year high on rising geopolitical tensions
Spot gold opened with gap-higher and spiked to new nearly seven-year high at $1588 in early Asian trading on Monday.
Rising tensions in the Middle East after the United States killed top Iranian general, further boosted demand for…
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Recovery needs clear break above 1.3137 Fibo barrier to resume and neutralize risk of stall
Cable maintains positive tone on Monday and extends recovery from strong downside rejection at 1.2900 zone last week, after pullback from post-election high at 1.3514 was contained rising 55DMA and failed to clearly break below Fibo 38.2%…
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Extended advance eyes psychological $1500 barrier
Spot gold advances for the second day, driven by pre-holiday safe-haven demand and also boosted by optimism on US/China trade deal and low interest rates.
Monday’s close above strong $1480 resistance zone, which kept the price action…
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Bears consolidate above pivotal Fibo support before resuming
Cable is trading within narrow in Tuesday’s European session but remains biased lower, following six consecutive days in red.
The sentiment weakened significantly on PM Johnson hard stance over Brexit which increased fears of no-deal…
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Aussie maintains positive tone and pressures new multi-month high
The Australian dollar remains in green on Tuesday following strong rally in past three days and eyes 4 ½ week high at 0.6938 (13 Dec), as optimism on US/China trade deal keeps the Aussie inflated.
Monday’s 0.42% daily advance resulted in…
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Oil remains in red but still away from key supports
WTI oil remains in red on Monday following the biggest one-day fall in past three weeks on Friday, as oil price was hurt by signs that US shale explorers intensify drilling and Kuwait’s attempts to reach a deal with Saudi Arabia and restore…
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Extended weakness hit new three-week low and cracked important Fibo support
Cable extended weakness to new three-week low at 1.2904 on Monday, following brief consolidation above psychological 1.30 support and subsequent bearish acceleration.
The sentiment remains weak as fears about hard Brexit at the end of…
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Daily cloud top contains for now but near-term outlook remains negative
The Euro is trading within narrow consolidation between daily cloud top (1.1074) and daily Kijun-sen (1.1090) on Monday, lacking signals in thinning pe-holiday market.
Strong fall on Friday was contained by daily cloud top and nearby…
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Gold advances on pre-holiday safe haven demand
Spot gold jumped above multi-day congestion tops at $1480 zone on Monday and penetrated thick daily cloud ($1479/$1490).
Fresh advance signals continuation of larger uptrend which repeatedly failed to clearly break $1480 Fibo barrier (50%…
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Cable is consolidating after 2.5% weekly fall and failure to clear 1.30 level but remains biased…
Cable ticks higher in early Monday’s trading after double failure to close below cracked psychological 1.30 support last Thu/Fri.
The pair suffered the biggest weekly loss in past three years last week, being down 2.5% for the week,…
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