Bears are consolidating before clear break below key supports
WTI oil consolidates within narrow range above new multi-month low at $52.10 on Tuesday but maintains negative tone.
Bears reduced pace after cracking 200WMA ($52.64) and approach to key Fibo support at $51.61 (61.8% of $42.36/$66.58),…
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Extended consolidation may precede fresh weakness
Bears are taking a breather above new low at 107.84, but consolidation remains narrow and without signs of stronger recovery for now.
Strong negative momentum and falling daily MA’s in bearish configuration support further downside, but…
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Recovery rally risks stall at key barriers
The Euro extends advance of past two days (Monday’s 0.69% rally marks the biggest one-day gain since 25 Jan) to test key barriers at 1.1277/79 (50% retracement of 1.1448/1.1107 / 100SMA / daily cloud top) in early Tuesday’s trading.…
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Pound extends higher on weaker dollar but key barriers are still intact
Cable holds in green for the third straight day and rises to one-week high after larger bears found temporary footstep and sentiment improves on dovish tones from Fed.
Yesterday’s comments from Fed St Louis president Bullard that US rate…
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Aussie cracks key barriers in bullish extension after RBA rate cut
The Australian dollar hit new three-week high in early Tuesday’s trading, in extension of strong rally in past two days, after The Reserve Bank of Australia cut interest rates by 25 basis points to record low at 1.25%.
The central bank cut…
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Completion of reversal pattern opens way for test of key barriers at 1.1215/20
The Euro extends recovery on Monday, as strong Friday’s rebound (which resulted in close above 10SMA) completed Doji reversal pattern on daily chart.
Fresh extension higher broke above significant barriers at 1.1177 (Fibo 61.8% of…
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Limited consolidation under key 1.2747 barrier likely to precede fresh weakness
Cable ticked higher in early Monday’s trading, following strong downside rejection and bullish close on Friday.
Weaker dollar offers temporary support to sterling, with idea of stronger recovery being supported by formation of bullish…
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Bears consolidate after sharp fall and look for clear break of cracked key 200WMA
WTI contract remains in red on Monday, following sharp, nearly 10% fall on Thu/Fri and spiked to ne low at $52.10 in early Asian trading.
Mild recovery was seen during late Asian / early European trading, as bears showed hesitation after…
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Yen on track for further rise on risk aversion; price adjustment may precede
The Japanese yen continues to shine on Monday and ticked to new multi-month high against US dollar at 108.07 (the lowest since 14 Jan), supported by fresh safe-haven demand, after signals of trade war spreading to countries beyond China.…
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Copper is on track for the biggest monthly fall since Jan 2015
Copper remains heavy on Friday and hits lowest levels since mid-January, pressured by rising concerns about spreading and escalation of trade war which threats to reduce global demand for the metal.
Fresh extension lower pressures key…
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