Weak UK inflation could hurt pound
Cable is holding within tight range in early Wednesday’s trading ahead of UK inflation report.
Near-term action is biased lower after daily Tenkan-sen (1.2870) repeatedly capped and Tuesday’s action ended in Doji candle, with uncertainty…
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Lira remains at the back foot and pressures cracked pivotal support
The USDTRY pair extends bounce from 5.6850 (4 Nov low) where rising 200DMA contained bear-leg from 5.9378 (14 Oct high).
Recovery returned above ascending and thickening daily cloud which twisted today and underpins the action.
Monday’s…
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Bears consolidate ahead of key Fibo support; Trump’s trade speech in focus
Spot gold remains in bearish mode and pressuring Monday’s new 13-week low at $1448, which lays just above key Fibo support at $1445 (38.2% of $1266/$1557 ascend.
The metal’s price holds in red for the fourth consecutive day and was down…
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Bias remains with bears despite failure to close below 3-week range floor
The cross is consolidating above new multi-month low at 0.8557, posted on Monday, with near-term action being slightly underpinned by unexpected improvement in German ZEW figure (Nov -2.1 vs -13.2 f/c, but the indicator remains in negative…
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Bulls in control above 200DMA, President Trump’s trade speech in focus
The pair edged higher on Tuesday after 200DMA (109.01) repeatedly limited dips, on track for another attack at cracked key Fibo barrier at 109.36 (61.8% of 112.40/104.44) which so far resisted two attacks.
Daily techs are mixed (momentum…
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Bears are taking a breather before resuming; German ZEW data remain negative and unlikely to change…
The Euro holds in extended consolidation above new three-week lows (1.1016) but remains biased lower, with consolidation being capped by broken 55DMA (1.1038).
Bearish daily studies maintain negative stance, however, further…
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Downbeat UK jobs data could pressure pound towards key supports at 1.2700 zone
Cable eases in early European trading on Tuesday, following previous day’s advance on Brexit party news.
Monday’s rally failed to break 1.29 barrier and closed below pivotal daily Tenkan-sen (1.2872).
Fresh weakness pressures supports…
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Loonie falls further on downbeat Canada’s employment / housing data
The pair rose to new three-week high after downbeat Canada’s housing and employment data depressed loonie.
Fresh advance (0.49% since Asian opening) broke important Fibo barrier at 1.3229 (61.8% of 1.3345/1.3041) and pressures next target…
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Bears look for extension below $1459 pivot as thick daily cloud weighs
Spot gold bounced from new five-week low, posted after 1.5% fall previous day, but recovery was so far limited and stalled at $1472, maintaining firm bearish tone.
The yellow metal was hurt by fresh optimism as US and China came close to…
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Close below key Fibo support/cloud top opens way for further weakness
Thursday’s eventual break of pivotal support at 1.1064 (daily cloud top / Fibo 38.2% of 1.0878/1.1179) where bears paused for two days, was strong bearish signal.
The pair hit new three-week low at 1.1035 in Thursday’s bearish…
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