Bears are pausing above key Fibo support but negative bias remains intact
Bears are taking a breather after Thursday’s 0.8% fall which marked the fifth consecutive day in red and was contained by key Fibo support at 0.6769 (61.8% of 0.6670/0.6929).
Optimistic comments from White House economic advisor about…
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Bulls regain traction but need close above bull-trendline for positive signal
The pair regained traction on Friday and moved higher after holding in red for five consecutive days.
Pullback from double-top at 109.48 was contained by rising daily Kijun-sen and fresh optimism on positive signals from US/China trade…
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Fibo support at 1.0993 remains key point; weekly close in focus
The Euro is holding above 1.10 mark in early Friday’s trading but attempts to extend Thursday’s recovery rally lack strength and were so far capped by broken Fibo 50% barrier at 1.1029.
Strong downside rejection under key Fibo support…
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Fresh bulls need weekly close above 20DMA to signal further recovery
Cable remains tall in early Friday’s trading and holds above broken 20DMA (1.2870), keeping firm near-term tone, following Thursday’s 0.25% rally and break above the tops of two-day congestion.
Sterling was inflated on fresh optimism…
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Bears probe again below key Fibo support
The Euro returns below 1.10 handle in early American trading on Thursday, following mild reaction on US weekly jobless claims that rose to five-month high and temporarily deflated dollar.
Fresh weakness pressures again key Fibo support…
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Bears continue to gradually extend
The cross continues to move gradually lower after eventually breaking below the floor of month-long congestion and hit new low at 0.8550 (the lowest since 7 May).
Strong bearish setup on daily/weekly chart studies signals further weakness,…
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Directionless mode extends as downbeat UK retail sales had minor impact on pound
Weaker than expected UK retail sales (Oct m/m -0.1% vs 0.2% f/c; y/y 3.1% vs 3.7% f/c) had minor negative impact on sterling.
Cable is slightly bid on Thursday but still holding within narrow range that extends into third day.…
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Aussie falls to 1-month low on weak Australian / Chinese data
The Australian dollar dipped below 0.6800 mark (50% retracement of 0.6670/0.6929) and hit new one-month low at 0.6792 in early European trading on Thursday.
Data released overnight showed strongest fall in Australian employment in past…
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Aussie extends weakness as trade optimism fades
The Australian dollar fell to two-week low against its US counterpart on Wednesday, extending weakness into fourth straight day and breaking through important Fibo support at 0.6830 (38.2% of 0.6670/0.6929).
Lack of breakthrough in…
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Larger bears temporarily on hold after weaker than expected UK CPI
The cross jumped to the session high at 0.8585 after weaker than expected UK inflation data deflated sterling.
UK CPI (y/y Oct 1.5% vs 1.6% f/c and 1.7% prev) fell to its lowest since Nov 2016, with BoE’s expectations for further fall…
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