Fresh weakness on PMI miss probes below trendline / MA supports
Cable extends weakness into fourth straight day, following rejection on approach to 1.30 resistance zone.
Weaker than expected UK PMI data (Manufacturing Nov 48.3 vs 49.0 f/c; Services Nov 48.6 vs 50.0 f/c) on Friday, pushed sterling to…
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The downside remains at risk as long as daily Kijun-sen caps
The Euro advanced in early European trading on Friday, boosted by better than expected German data (GDP Q3 y/y 1.0% vs 0.5% f/c; Nov Manufacturing PMI 43.8 vs 42.9 f/c), but lower than expected services PMI (Nov 51.3 vs 52.0 f/c) limited…
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Risk of deeper pullback on violation of converged 20/10DMA’s
Cable dipped to the lowest level this week on extension of pullback after repeated attack at pivotal 1.30 resistance zone stalled.
Return below thin weekly cloud after brief probe above would generate negative signal on Friday’s close…
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Euro eases on risk off mode and after double failure at daily Kijun-sen
The Euro eases in early Wednesday’s trading and dips back into daily cloud (top of the cloud lays at 1.1064) on fresh risk off mode as US/China trade tensions intensify again.
Bulls enter corrective phase after four-day rally repeatedly…
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Dollar drops and safe havens gain on fresh US/China trade pessimism
The dollar and riskier assets fell in early US trading on Monday on the latest media report that expressed pessimistic tone from China over trade deal and soured sentiment.
The USDJPY pair was down some 40-pips after news were released and…
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Gold remains under pressure on hopes for US/China phase one trade deal
Spot gold falls further on Monday as rising hopes that the US and China will soon reach a deal in the phase one of their trade talks, keeps risk mode and prompts traders out of safe-haven metal.
Monday’s extension of pullback from recovery…
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Probe above cloud top is positive signal but risk of recovery stall still exists
Strong recovery from 1.0989 (14 Nov low) where bears were trapped at Fibo 61.8% level, extends into third straight day.
Early Monday’s advance cracked key barriers at 1.1060/64 (daily cloud top / double Fibo barrier) but needs firm break…
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Signals of bullish continuation require break above 1.30 to be confirmed
Cable maintains positive tone and extends advance to new over two-week high in early European trading on Monday, following 20-pips gap higher Monday’s opening.
Sterling was boosted by fresh opinion polls pointing to Conservative victory at…
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Cable rises on Brexit news and pressures key barriers
Cable rose above 1.29 mark on weaker greenback after US data and the latest Brexit Party news and holding firmly above 20DMA (1.2872) that generates initial bullish signal.
Fresh advance pressures pivotal barriers at 1.2920 zone (Fibo…
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WTI price is inflated by market optimism but remains congested between 200DMA and daily cloud top
WTI oil price stands at the front foot on Friday and accelerated above $57 mark on weaker dollar after US data.
Optimism that the OPEC+ group will maintain its agreement for oil supply cut and fresh hopes for US/China trade deal, keep the…
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