WTI rose over 3% on renewed trade optimism
WTI oil bounced on Monday, inflated by fresh optimism after China announced willingness to restart negotiation.
Monday’s rally of 3.3% so far, retraced 50% of three-day fall from $57.11 to $52.95, when oil price was depressed by strong…
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Risk of recovery stall under key barriers rises
Cable stands at the back foot on Monday and eases from new recovery high at 1.2293, posted after strong bullish acceleration last Thu/Fri.
Bulls face strong headwinds from key barriers at 1.2308/11 (Fibo 38.2% of 1.2783/1.2015 /…
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Gold consolidates under new multi-year high; bullish bias above $1500 support zone
Spot gold eases from new over six-years high at $1555, which was posted in early Asian trading on Monday, as strong signals of trade war escalation on China imposing new tariffs and the US retaliation, sparked strong migration from riskier…
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Bounce to offer selling opportunities while capped by converging 10/20DMA’s
The pair started week with gap-lower and fell to new nearly three-year low at 104.44 in Asia, before bouncing.
Buying dips below 105 handle by Japanese importers and the latest news that China asked to return to negotiating table,…
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New China tariffs send dollar lower on increased safe-haven demand
The pair fell to daily low at 106.38 after China announced its tariff retaliation, materializing their earlier warning about response to new US tariffs on imports from China from 1 Sep.
Dovish comments from Fed’s Bullard, just hours…
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Will Powell spark eventual break from extended congestion?
Multi-day range is narrowing as near-term price action is holding within a pennant pattern and awaiting fresh signals.
Converging 20 and 10DMA’s (106.66 and 106.29 respectively) hold the action for now and mark pivotal points, with break…
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Broken 21DMA needs to hold and keep fresh bears in play; Brexit news, Powell are key drivers today
Cable eases from new recovery high at 1.2273 in early Friday’s trading, following 1.04% rally on Thursday, when sterling was inflated by fresh Brexit optimism on Germany’s Merkel comments about possible solution for Irish backstop.
Bullish…
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Kiwi rises on comments from RBNZ chief but recovery is seen limited
The Kiwi dollar jumped from new over 3 ½ year low (0.6361) in early Friday’s trading, following better than expected New Zealand Q2 retail sales and comments of RBNZ Governor, who said that the central bank can wait on monetary policy…
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Directionless mode extends into fifth day as market await fresh signals from Powell
The Euro tested both boundaries of five-day range (1.1066/1.1113) on Thursday, but failed to break on either side, as price action in Asia / Europe / early US session is presented in long-legged Doji daily candle that signal strong…
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Gold may extend pullback towards key supports at $1478/76
Spot gold probes again below $1500 level on Thursday, weighed by softer than expected tone from Fed, as US central bank, in minutes of July meeting, signaled that needs more evidence in order to determine future action regarding monetary…
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