Bulls are pausing under new 7-mth high and awaiting US jobs data for fresh signals
Cable eases in early European trading on Friday as bulls are taking a breather, following impressive rally of nearly 2% in past four days that resulted in extension to the highest level in over seven months.
Sterling was in strong bullish…
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Near-term action remains propped by thick daily cloud and extends gains above key Fibo barrier
The Euro maintains firm tone and extends above cracked key Fibo barrier at 1.1103 (61.8% of 1.1179/1.0981) in early Friday’s trading.
Fresh strength emerged on Thursday after third straight rejection at daily cloud top, keeping bullish…
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Oil price rises on expectations of OPEC’s deeper production cut
WTI oil holds firm tone on Thursday, following 3.3% advance on Wednesday, with strong bullish sentiment being boosted by much bigger than expected drop in weekly crude inventories (-4.85mln bls vs -1.73 mln bls f/c) and expectations that…
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Risk of reversal increases
The Aussie dollar dips on Thursday on disappointing Australia’s retail sales (Oct 0.0% vs 0.3% f/c) and trade balance (Oct surplus 4.5B vs 6.1B f/c), increasing risk of reversal.
Tuesday’s action stalled at key Fibo barrier at 0.6862 and…
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Positive tone above daily cloud but risk of bull-trap exists
The Euro found fresh bid on Thursday and bounced from daily cloud top (1.1078) which underpins for the third straight day and keeps bullish bias intact.
Two consecutive Dojis (Tue/Wed) with Wednesday’s candle having very long upper…
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Fresh bullish extension on Thursday cracks next resistance zone
Cable maintains strong bullish tone and extends to new seven-month high in early Thursday’s trading.
The pair was up 0.85% on Wednesday, in the biggest one-day rally since 18 Oct, as positive sentiment was strongly boosted by rising…
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Cable extended rally to seven-month high, helped by downbeat US data
Cable extended strong advance on Wednesday and hit new seven-month high at 1.3120.
The pair cleared several barriers en-route (100/200 WMA’s), after downbeat US data (ADP private employment report and non-manufacturing PMI) further hurt…
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Aussie bounces on weaker greenback after downbeat US jobs data
The Australian dollar bounced from session low at 0.6813, posted after Aussie’s fall on weaker than expected Australia’s GDP (Q3 0.4% vs 0.5% f/c).
The pair was inflated by renewed optimism over US/China trade talks(after President Trump…
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Euro cracks key barriers on rally after weak US data
The Euro regained traction and jumped in early US trading on Wednesday, after weaker than expected US private sector employment data (ADP Nov 67K vs 140K f/c and downward-revised Oct 121K) hit the greenback.
The pair traded in a sideways…
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Fresh bearish acceleration hits lowest levels in nine months
Bearish acceleration on Wednesday probes below 0.8500 mark for the first time in seven months and signals continuation of larger downtrend from 0.9324 (2019 high, posted on 12 Aug).
Fresh bears cracked strong support zone at 0.8489/71…
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