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...
Fresh advance needs clear break above 0.90 to signal an end of corrective phase
The cross regained traction on Monday and bounces, after three-day pullback was contained above rising 30DMA (0.8953), despite Friday’s close below psychological 0.90 support.
Fresh strength pressures 0.90 level but needs daily close above…
Read More...
Read More...
The dollar remains bid but bulls struggle to clear pivotal 108 barrier
The pair rose in Asia on Monday as dollar remains bid on tempered expectations for stronger rate cut by Fed, but fresh gains were so far unable to hold gains above 108 barrier, reinforced by converged 10/20/30DMA’s at 108.06.
Rising…
Read More...
Read More...
Sterling stands at the back foot at the beginning of key week for Britain
Cable eases further in early European trading on Monday, following failure to hold gains above pivotal Fibo support at 1.2535 (38.2% of 1.2783/1.2382), with action stalled on approach to falling 20DMA (1.2555).
Fresh weakness probes below…
Read More...
Read More...
Pullback needs to hold above key supports at 0.7033/00 zone to keep larger bulls in play
The Australian dollar stands at the back foot at the beginning of the week following Friday’s close in red after bulls stalled on approach to 200DMA (0.7090).
Stronger US dollar on renewed safe-haven bid on Middle East tensions and lowered…
Read More...
Read More...
Loonie falls after weak retail sales but overall bullish picture remains intact
The USDCAD bounced from new low at 1.3015 (the lowest since 25 Oct) and probed above 1.31 barrier after downbeat Canada’s retail sales (May -0.1% m/m vs 0.3% f/c / Core -0.3% vs 0.3% f/c) deflated loonie.
Fresh advance fully retraced…
Read More...
Read More...
Bears pause for profit-taking; negative outlook while 107.80 caps upticks
The pair bounces from new low at 107.21 (Thu/Fri lows), boosted by profit-taking after two-day 108.32/107.21 fall.
The dollar was hit by dovish comments from Fed on Thursday, but dips found footstep ahead of key support at 106.78 (25…
Read More...
Read More...
Bulls are taking a breather under key barriers after 1% advance
Cable is consolidating under new recovery high at 1.2558, posted after Thursday’s nearly 1% advance (the biggest one-day rally since 3 May).
Upbeat UK retail sales inflated pound with further acceleration higher being sparked by dovish Fed…
Read More...
Read More...
Bullish bias above daily cloud but key barriers still cap
The Euro stays bid and holding under session high at 1.1281 in early European trading after overnight’s dip was contained by converged 10/55 DMA’s / daily cloud top (1.1242).
The single currency rallied strongly in late Thursday on dovish…
Read More...
Read More...