Cable stands at the back foot after surprise BoE’s dovish turn but key supports still hold
Cable is holding within narrow consolidation in early Friday’s trading after Thursday’s fall broke and closed below important Fibo support at 1.2819 and cracked 1.2800 handle, generating negative signal.
Sterling was hit by unexpected…
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Fresh weakness is on track for close below pivotal daily cloud top support
The Euro returned below cracked 1.1064 pivot (daily cloud top / Fibo 38.2% of 1.0878/1.1179 rally), coming under renewed pressure after short-lived rally on optimistic trade news was capped by the base of thick hourly cloud (1.1091).…
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The cross rises through initial barriers after split MPC vote hurt sterling
The cross retested highs of past few days at 0.8646 (reinforced by falling 20DMA) on fresh bullish acceleration on surprise BoE MPC split vote (7-2 vs 9-0 f/c) on previous policy meeting, report showed today.
Sterling came under fresh…
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Yellow metal falls on fresh risk demand
Spot gold fell $10 in European trading on Thursday on fresh risk mode, sparked by optimistic news regarding US/China trade talks.
Fresh weakness erased Wednesday’s recovery and pressures again daily cloud base ($1478), cracked on Tuesday’s…
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Bulls regain traction and return above 200DMA on fresh risk mode
Optimistic news on US/China trade issue prompted investors into riskier assets and pushed the pair back above 200DMA (109.02).
Wednesday’s close in red and below 200DMA put on hold hopes for eventual attack at key Fibo barrier at 109.36…
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Sterling could come under increased pressure on BoE’s dovish turn
Cable edged higher in early Thursday’s trading on fresh risk mode in the markets, but the action requires more work at the upside to neutralize downside risk.
Wednesday’s close below 10DMA (1.2880) which held the action in past four days…
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Fresh risk mode puts bears on hold but bias remains negative
The Euro jumped in early European trading on Thursday after comment from China’s commerce ministry which expressed readiness to negotiate on how much tariffs can be cancelled.
The comment sparked fresh risk mode in the market and put…
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Strong build in crude stocks weakens the structure and risk repeated close below 200DMA
WTI oil price dipped after much stronger than expected build in weekly crude stocks (7.9 mln bls vs 1.5 mln bls f/c) data showed on Wednesday.
Strong rally extended into fourth straight day and peaked at $57.83 today (the highest since 24…
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Bulls again lose traction on approach to key Fibo barrier
Strong three-day rally, sparked by fresh risk mode on trade optimism, approached recent three-month high at 109.28 (30 Oct) on Tuesday, following the strongest one-day rally since 25 Sep, which also resulted in daily close above 200DMA…
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Bears consolidate above key supports after nearly 1% two-day pullback
The Euro is consolidating above thick daily cloud, reinforced by Fibo 38.2% of 1.0878/1.1179 ascend, where strong two-day drop found footstep.
Tuesday’s nearly 0.5% fall marks the biggest one-day loss, with two long bearish daily candles…
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