The Euro remains constructive after Thursday’s strong upside rejection; US jobs data in focus
The Euro stands at the front foot in early Friday’s trading, but holding below key barriers at 1.10 zone (double-Fibo resistance / falling 20DMA) which was cracked on Thursday’s rally.
Failure to clearly break higher marks the significance…
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Fresh advance signals possible break of four-day congestion
Cable accelerated higher in early US trading on Thursday, signaling possible break of four-day congestion, after long-tailed candles of past two days added to idea of bears’ stall.
Fresh advance broke above Fibo barrier at 1.2349 (38.2%…
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Directionless mode extends as the latest Brexit proposal lacked support from EU
Cable remains in directionless mode for the fourth straight day, with repeated long-legged Dojis signaling strong indecision.
No significant reaction was seen from Wednesday’s new Brexit proposal by PM Johnson, as the EU officials in…
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Bears consolidate above key supports, awaiting fresh signals from US data
Bears are taking a breather after steep fall in past two days as dollar was hit by downbeat US Manufacturing PMI data and weaker than expected US private sector jobs report that raised concerns about US economic growth slowdown and fueled…
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Risk of recovery stall while pivotal Fibo barrier caps
The Euro is consolidating under pivotal Fibo barrier at 1.0967 (38.2% of 1.1109/1.0878) in early Thursday’s trading.
Two-day recovery from new over two-year low at 1.0878 (sparked by weaker than expected US Manufacturing and private sector…
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Choppy mode ahead of EU response to Johnson’s Brexit plan
Cable jumped to 1.2300 zone after UK PM Boris Johnson outlined his final Brexit plan, which he described as constructive and reasonable and urged the bloc leaders to compromise or face UK leaving on 31 October without a deal.
Johnson…
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Oil price returns to red after limited recovery; awaiting crude inventories report
WTI oil price returned to red on Wednesday after bounce from Tuesday’s one-month low ($52.97), sparked by surprise drop in US oil inventories, stalled at $54.31.
API report on Tuesday showed unexpected drop in US crude inventories (5.9 mln…
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Euro returns to red after post-US data rally failed to hold gains
The Euro lost traction and dipped near 1.0900 support in European trading on Wednesday, after Tuesday’s rally on downbeat US data failed to sustain gains.
Fresh weakness of sterling on disappointing UK construction PMI (Sep 43.3 vs 45.0…
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PM Johnson’s final Brexit offer to EU is key event on Wednesday
Cable stands at the back foot in early Wednesday’s trading, following Tuesday’s roller-coaster action when the pair cracked daily cloud base (1.2224) and hit new one-month low (1.2204), but subsequently bounced to 1.2337 (session high) on…
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Dollar falls across the board after downbeat US Manufacturing PMI
The US dollar was sharply lower against its major counterpart in early American session on Tuesday, following downbeat US Manufacturing PMI data (Sep 47.8 vs 50.4 f/c), hitting the lowest since 2009.
Weak numbers signal contraction and…
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