Bears pressure 2019 low and eye psychological 1.10 support, with fireworks expected on break
The Euro maintains strong bearish bias, holding in red for the fifth straight day, with rising risk of retesting 1 Aug spike low at 1.1027 (2019 low) after bears broke below last Friday’s low at 1.1051.
Sentiment remains negative ahead of…
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Bears eye Friday’s low but can extend further
The Euro holds in red against US dollar for the third straight day, with near-term action being capped by falling 10DMA (1.1094), following negative signals on two consecutive daily closes below the moving average.
The single currency was…
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Strong rebound needs more evidence to signal reversal
The cross rebounds strongly on negative Brexit news on Wednesday, sidelining immediate downside risk, as strong bullish acceleration fully retraced Tuesday’s 0.7% fall and spiked to four-day high at 0.9123.
Fresh negative sentiment for…
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Sterling collapses on fresh signals of hard Brexit
Cable collapsed in early European trading on Wednesday on media report that Britain’s Queen Elizabeth could be asked to agree to suspend parliament, in order to prevent blocking the plan of PM Johnson to leave the EU on 31 Oct, with or…
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Oil attempts to extend recovery but key barriers still intact
WTI oil price rose on Tuesday, supported by report that OPEC+ group’s output stays below limits agreed and that cartel’s production cut was so far exceeded by more than 50%.
Adding to positive signals was the OPEC report which suggests…
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Close above 20DMA needed to improve near-term outlook and expose key barriers
The Australian dollar remains constructive on Tuesday and probes again through falling 20DMA (0.6775), which capped the action in past four days.
Fresh attempts to extended Monday’s rally that emerged after strong downside rejection…
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Fresh advance looks for another attack of key trendline / Fibo barriers
Cable edges higher after double downside rejection at 1.2208, where a higher base is forming on 4-hr chart.
Fresh upside is supported by double-bull-cross (5/20 and 10/20) as well as strong bullish momentum on daily chart, but will face…
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Repeated close below 10DMA to maintain bearish bias
The Euro ticks higher in early European trading on Tuesday after 0.46% fall on Monday, which generated bearish signal on close below 10DMA (1.1108).
The pair was on the roller-coaster in past two days following strong twists in US-China…
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Traders take profit on Monday’s 1% rally as initial trade talks optimism eases
The pair moves lower in early Tuesday following strong downside rejection at new multi-year low and subsequent 1% advance on Monday, on renewed optimism in US-China trade conflict.
The market was highly volatile in past two days on…
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Direction change after weak German data but US-China talks still key driver
The Euro trades in red on Monday after attempts to extend last Friday’s 0.53% advance failed to clearly break above falling 30DMA (1.1152).
The single currency came under pressure after downbeat German Ifo data (Aug 94.3 vs 95.1 f/c and…
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