The Euro was axed by dovish Draghi, massive German ZEW miss
The Euro fell sharply (making the biggest hourly drop in 1 ½ month) and hit new two-week lows as comments from ECB President Draghi disappointed traders.
Draghi pointed to weakness in coming quarters, signaling that fresh stimulus would be…
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Dovish RBA pushes Aussie to new multi-month lows
The Australian dollar hit new 6 ½ month low against the US dollar on Tuesday, extending fall from 0.7022 high into seventh straight day.
Weak Australian housing data, released overnight and more important comments from RBA, which…
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Bears hit new multi-month low but may slow for consolidation
Cable remains in red and extends weakness into fifth straight day on Tuesday, hitting the lowest levels since 03 Jan.
Pound is weighed down by fears of no-deal Brexit, as Boris Johnson remains favorite candidate to succeed Theresa May as…
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Positive tone above daily cloud base ahead of key German / EU data
The Euro stands at the front foot in early Tuesday’s trading and pressures initial barriers at 1.1246/47 (falling 5SMA / Monday’s high).
The pair is attempting to form a base at key supports at 1.1208/04 (daily cloud base / Fibo 61.8% of…
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Fresh bulls probe through key barrier
The cross accelerated higher on Monday and probes through key barrier at 0.8932 (11 June high, the highest since mid-Jan), signaling an end of shallow 0.8932/0.8871 correction, which was contained by rising 10SMA.
Bulls enter seventh…
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Directionless mode can extend until FOMC meeting
Fresh easing of the US dollar in early US trading on Monday, obstructs again attempts to eventually break above multi-day congestion.
Fresh bulls from last Friday’s rally, which generated positive signal on bullish outside day, are still…
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Near-term risk shifts lower as 10SMA continues to cap
WTI oil price was a tad lower in Europe on Monday after advancing last Thu/Fri on rising tensions in the Middle East after two tankers were attacked in Gulf.
Overall structure remains bearish as fears of lower global demand on persisting…
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Bears are taking a breather before probe through key 1.2559 support
Cable is holding in narrow consolidation above 31 May low at 1.2559 on Monday, following strong bearish acceleration on Friday, sparked by solid US data.
Consolidation may extend on oversold conditions, but overall picture remains negative…
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Corrective upticks are expected to precede final push through key supports at 1.12 zone
The Euro is holding near two-week lows and pressuring key supports at 1.1200 zone in early Europe on Monday, following strong fall on Friday after upbeat US data inflated dollar.
Friday’s break below converged 55/20/30SMA’s and marginal…
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Euro falls further after strong US retail sales
The Euro accelerated lower after Strong US retail sales (May 0.5% vs Apr 0.3%, revised upward from -0.2%) inflated dollar and reduced greatly probability of rate cut on FOMC policy meeting next week.
Fresh weakness surged through Fibo…
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