USDZAR bulls struggle at key Fibo barrier
The pair continues to struggle at key Fibo barrier at 14.75 (61.8% of 15.69/13.23) and on track for the fourth failure to clearly break higher in one week.
Series of daily candles with long upper shadows warns that bulls might be running…
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Aussie remains bid but needs clear break above 0.70 barrier for bullish continuation
The Australian dollar remains at the front foot on Wednesday and probes again through cracked double-Fibo barriers at 0.6990/94 and psychological 0.70 level.
Positive tone on weaker US dollar after further dovish comments from Fed…
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Recovery struggles at 1.2700 zone; UK Services PMI in focus
Cable is trading within narrow range in early Wednesday’s trading and showing signs of stall of three-day recovery leg from 1.2559 low, as bulls face strong headwinds from 1.2700/08 barriers (round-figure / Fibo 23.6% of 1.3179).
Tuesday’s…
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The Euro remains biased higher but risk of repeated failure at key barriers exists
The Euro remains at the front foot in early Wednesday’s trading and attempts again towards key barriers provided by daily cloud top; 100SMA and 50% retracement of 1.1448/1.1107 fall (1.1277/79) where Tuesday’s attack was strongly rejected.…
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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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