Gold recovers after strong fall but pivotal barriers stay intact for now
Spot gold bounces from $1500 level which contained Wednesday’s 1.9% fall.
The yellow metal fell sharply on renewed risk appetite that prompted traders to collect profits from four-day $1483/$1535 rally.
Wednesday’s fall (the second…
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Recovery attempts need break above falling 20 DMA to signal reversal
The cross holds in green for the second day and extends gains above falling 10DMA (0.8844), pressuring first pivots at 0.8900 zone (16/19 Sep spike highs).
Larger bears may take a breather after failure to clearly break below 200DMA…
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Penetration of daily cloud boosted bears
Bears break through pivotal Fibo support at 1.2343 (38.2% of on Thursday 1.1958/1.2582 / 20DMA) on Thursday, extending Wednesday’s 1.1% fall (the biggest one-day drop since 29 July) which generated strong bearish signal on break of key…
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Bears are taking a breather before final attack at key support at 1.0926
The Euro is holding within narrow consolidation above new two-week low at 1.0937 in early Thursday’s trading, but remains strongly biased lower, following Wednesday’s 0.7% fall.
The single currency was hit by fresh strength of US…
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Oil extends weakness through key supports as bearish pressure rises
WTI oil price declines for the third straight day and breaks below $56 handle after taking out series of strong technical supports.
Negative sentiment on concerns about global oil demand, in light of latest tough comments on trade conflict…
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Aussie accelerates through key Fibo support on strong risk aversion
The Australian dollar was sharply lower on Wednesday, registering losses of 0.85% for the day so far and on track for the biggest one-day fall since 1 July.
US/China trade conflict, Brexit uncertainty and Trump impeachment talk were key…
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Penetration of daily cloud brings bears in play
Cable fell to new two-week low at 1.2372 in early US trading on Wednesday, after repeated rejection at pivotal Fibo barrier at 1.2501 further soured sentiment and dollar regained traction after being hit by fresh political crisis in the…
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Fresh weakness probes again below key Fibo support
Near-term action remains biased lower following triple failure at falling 20DMA (currently at 1.1023) and subsequent easing on Wednesday that attacks again cracked key Fibo support at 1.0996 (61.8% of 1.0926/1.1109 upleg).
However, strong…
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Cable extends directionless mode within 1.2400/1.2500 range
Cable eases below rising 10DMA (1.2458) in early European trading on Wednesday, failing to benefit from Tuesday’s bullish outside day, as another failure at 1.2501 pivot on Tuesday (Fibo 38.2% of 1.3381/1.1958) keeps the downside…
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Aussie bounces from key Fibo support but remains biased lower on expectations for RBA rate cut
The pair jumped above 0.6800 handle on Tuesday as the Aussie was bought after slightly less dovish than expected comments from RBA governor Lowe, earlier today.
Bounce occurs after triple-failure at key Fibo support at 0.6766 (61.8% of…
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