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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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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