Reaction on court rule was so far below expectations and downside remains at risk
Cable regained traction and tested again 1.2500 barrier in early US trading, following mild initial reaction on UK Supreme Court’s verdict that PM Johnson’s suspension of parliament was unlawful.
Fresh bulls need sustained break above…
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Oil price holds bearish bias but cracked pivotal supports still hold
WTI oil price remains in red on Tuesday despite Monday’s strong downside rejection at $57.33 and failure to close below cracked pivotal supports at $57.74 (10DMA) and $57.44 (Fibo 61.8% of $53.93/$63.12 jump).
Weak economic data from…
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Fresh weakness may extend on break of triangle support
The pair trades in red for the second straight day and extends weakness through daily cloud top (5.6900) to crack 55DMA (5.6739) and pressure triangle support (5.6683).
Near-term action holds within narrowing range, with break of triangle…
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Sterling remains in red ahead of UK Supreme Court decision
Bears are taking a breather following two-day pullback from new recovery high at 1.2583b dipped to 1.2412 and pressured key support at 1.2399 (top of thick daily cloud).
Today’s action is holding below 10DMA (1.2440) after Monday’s dip…
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Bears consolidate under broken 1.10 support ahead of German Ifo data
The Euro traded within tight range in Asia on Tuesday, consolidating past two days’ 100-pips fall.
The pair maintains bearish bias after Monday’s close below 1.10 handle (psychological / near Fibo 61.8% of 1.0926/1.1109)…
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Gold extends recovery, boosted by fresh concerns over global growth slowdown
Spot gold extends recovery through $1520 barrier (50% retracement of $1557/$1483) on Monday and tested 12 Sep spike high at $1524.
Fresh advance confirms higher base at $1484 zone and confirms bullish signal generated on Friday’s close…
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Bear-trap and hammer generate initial reversal signals but downside is still at risk
The cross remains in green for the second straight day and returns above 200DMA (0.8836) in attempts to create bullish signal and spark reversal.
Friday’s hammer candle and bear-trap at pivotal Fibo support at 0.8808 (61.8% of …
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Oil price cracks pivotal supports on fresh optimism over Saudi production recovery
WTI oil price changed direction and fell below important supports at $57.66/44 (10DMA / Fibo 61.8% of $53.93/$63.12) on Monday, following the latest news that Saudi Arabia is restore production from oil facilities damaged in attack last…
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Extension of pullback pressures strong support at 107.30
The pair holds in red for the third straight day and extends weakness to two-week low at 107.30 in European trading on Monday.
Safe-haven yen continues to benefit from persisting uncertainty over US/China trade conflict as the latest…
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Downbeat German data push Euro below 1.10 support, increasing risk of retesting key supports
The Euro spiraled below 1.10 handle in early European trading on Monday, hit by downbeat German PMI data (Manufacturing PMI Sep 41.4 vs 44.0 f/c / Services PMI Sep 52.5 vs 54.3 f/c) and lower than expected EU PMI data.
Break of pivotal…
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