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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
Close above broken 108 barrier to signal recovery extension
The dollar remains firm and probes again above 108 barrier (reinforced by converged 10/20/30DMA’s) which capped Monday’s upside attempts.
Bull-leg from 107.21 double-bottom extends into third consecutive day and broke above 50%…
Read More...
Read More...
Break of 1.1181/79 pivots would risk extension towards key 1.11 zone
The Euro cracked 12 support zone in extension of steep fall that extends into third day and pressures next pivotal supports at 1.1181/79 (18 June trough / Fibo 76.4% of 1.1107/1.1412 ascend).
The single currency stands at the back foot on…
Read More...
Read More...
Bears extend and focus key support ahead of election of Britain’s new PM
Cable stays in red for the third straight day and extended weakness from 1.2558/56 double-top to new two-week lows.
Monday’s close below 10DMA (1.2491) generated initial bearish signal, which was reinforced by Tuesday’s break below 1.2449…
Read More...
Read More...
Turkish lira stands at the back foot ahead of CBRT rate decision on Thursday
The Turkish lira remains in defensive mode for the second day as dollar bounced on lowered expectations for Fed’s 0.5% rate cut.
The pair dipped to 5.5977 on Friday, to cover the gap from 8 July when lira fell sharply after the CBRT…
Read More...
Read More...