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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Bulls extend through key Fibo barrier
Fresh bullish extension on Thursday after previous day’s narrow consolidation, firmly broke into daily cloud, took out Fibo barrier at 5.7531 (38.2% of 6.2445/5.4494 descend, also weekly cloud top) and cracked 100DMA (5.7881), after probing…
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Consolidation to likely precede fresh weakness while falling 20DMA caps
Near-term action remains directionless narrow range mode after falling 20DMA repeatedly capped recovery attempts, but the downside remains protected by 10DMA for now.
Prevailing tone remains negative as daily momentum starts turning south…
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Extended consolidation expected ahead Powell’s speech in Jackson Hole
The Euro bounces to 1.11 zone in early European trading on Thursday, helped by better than expected German PMI data (Mfg Aug 43.6 vs 43.0 f/c; Services Aug 54.4 vs 54.1 f/c) that partially offsets negative impact from less hawkish than…
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Bear-trendline capped recovery again; US crude inventories in focus for fresh signals
WTI oil price eases on Tuesday, after attempts to extend Monday’s 2.15% advance repeatedly failed to clearly break above strong barriers at $56.19 (converged 200/30DMA’s) and $56.33 (bear-trendline off 15 July high at $60.96).
Near-term…
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Bulls crack key barriers, signaling further advance
The USDTRY pair extends advance into third straight day and broke above 55DMA (5.6828), penetrating thick daily cloud (base lays at 5.7202) and approaching another pivotal barrier at 5.7531 (Fibo 38.2% of 6.2445/5.4494 descend).
Very…
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Downside risk rises after repeated rejection at key barrier
The pair holds in red on Tuesday after three-day recovery repeatedly failed to clear key Fibo barrier at 106.68 (38.2% of 109.31/105.05).
Rising bearish momentum on daily chart warns of further easing, with extension below 10DMA pivot…
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Near-term focus turns lower after recovery stalled under falling 20DMA
Fresh bearish extension on Tuesday after recovery was repeatedly rejected under falling 20DMA, retraced over 50% of 1.2015/1.2175 recovery phase and also probes below 10DMA (1.2099), close below which would signal an end of recovery phase…
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