Breach of triangle support shifts focus lower
Cable remains biased lower following double upside rejection under falling 20DMA (1.2508) and fresh probe below triangle support line (1.2448), with bearish daily studies supporting scenario.
Initial enthusiasm after Boris Johnson became…
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Consolidation under 1.12 barrier to precede fresh attack at key 1.11 support zone
The Euro is holding within narrow range above new 2019 low in early Friday’s trading, after Thursday’s post-ECB roller-coaster action ended in long-legged Doji candle, signaling strong indecision at key 1.11 support zone.
The ECB kept…
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Euro on roller-coaster after unchanged ECB; less dovish than expected Draghi
The Euro fell to new 2019 low at 1.1101 in strong bearish acceleration after the ECB stayed on hold in today’s meeting, changed its forward guidance and pointed towards more efforts to push inflation towards its 2% target.
The ECB expects…
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Bears extend on dovish RBA and crack bull-channel support line
The AUDUSD fell to new two-week low Thursday, extending weakness into fifth straight day, following comments from RBA Governor Lowe, who said that it was reasonable to expect an extended period of low interest rates.
Fresh weakness cracked…
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Near-term action remains volatile and without clear direction
Cable is holding within tight range and maintaining positive tone on fresh optimism after Boris Johnson took office as Britain’s new PM that temporarily overshadows fears of no-deal Brexit.
Talks about new deal, referendum, election or…
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Firm bearish tone persists ahead of ECB
The Euro remains in red and moved lower in early European trading on Thursday, awaiting today’s key event, ECB interest rate decision.
Negative sentiment was soured further by weak PMI data from EU members, with focus on the strongest…
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Upbeat crude inventories could boost oil price for break above 200DMA
WTI oil price is holding within tight range under Tuesday’s recovery high at $57.46 on Wednesday, with falling 200DMA ($57.23) continuing to cap for the second consecutive day.
WTI contract advanced 1.7% in late Tuesday’s trading, after…
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Bears approach key 1.11 support zone after weak EU data ahead of ECB
The Euro fell to new two-month low on Wednesday, hit by significant miss of PMI data from EU, Germany and France, which added to negative outlook on expectations of ECB rate cut on Thursday.
Extension of Tuesday’s strong fall (the pair was…
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Mild reaction on Johnson’s PM confirmation; bias remains with bears
Cable reacted calmly on widely expected results of vote for Conservative Party leadership and Britain’s Prime Minister positions that Boris Johnson won today.
The pair was around 40 pips from European session high at 1.2481, in immediate…
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Converged 200/10DMA’s contain post-RBNZ bearish acceleration
The Kiwi dollar is consolidating above one-week low at 0.6717, posted today on fresh bearish acceleration of pullback from 0.6790 (19 July recovery high), triggered by comments from RBNZ, which announced an update of its unconventional…
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