Pound is awaiting PM May’s speech for fresh signals
Pound jumped to session high at 1.2745 on the latest news that PM May will make a speech today (15:00GMT) and present the details of Brexit legislation before parliament vote in June.
May is expected to present her Brexit plan that was…
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Turkish lira stabilizes on CBRT’s easing; all eyes on Q1 GDP
The Turkish lira stabilizes within narrow range between rising 20SMA and south turning 10SMA, with threats of fresh weakness following post-intervention rally, fading.
The CBRT’s decision to undo tightening and lower interest rates by 150…
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Near-term action is in neutral mode and looks for fresh direction signals
US CRUDE OIL
WTI oil holds within tight range on Tuesday after the third consecutive failure to make sustained break above cracked $63.30 pivot (50% retracement of $66.58/$60.03 / 30SMA).
Key factors that influence oil prices, US/Iran…
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Bulls show strong indecision at key Fibo barrier
Bulls attempt to regain traction after Monday’s recovery stalled at key Fibo barrier at 110.31 (38.2% of 112.40/109.02) and daily action ended in long-legged Doji, signaling strong indecision.
The dollar moved higher in early Tuesday’s…
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Pound extends weakness below 1.2700 handle
Cable accelerated lower on Tuesday after bears took a breather for narrow consolidation on Monday.
Fresh weakness probes below 1.2700 round-figure support and eyes target at 1.2668 (15 Jan spike low), driven by persisting fears of no-deal…
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Dovish RBA pushes Aussie towards new multi-month low
The Australian dollar fell back towards last Friday’s new 4 ½ month low on Tuesday, following dovish stance from RBA.
Central bank’s Governor Lowe pointed to rate cut on next month’s meeting that would boost hiring to lower unemployment…
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Bulls struggle to clear key Fibo barrier at $73.02
Uncertainty over the fate of OPEC+ group production cut deal weighed on oil prices on Monday, after the group reached general consensus over extending the deal which expires at the end of June, but Russia casted doubts over the models of…
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Bears on hold and looking for fresh signals
The pair holds in narrow consolidation above new two-week low as bears take a breather after 07% fall last week.
Slight positive tone was boosted by weaker than expected US data on Monday, along with oversold daily stochastic and…
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Recovery faces strong headwinds from key barrier
Recovery from new 3 ½ month low at 109.02 (13 May) faced strong headwinds from key barriers at 110.31 (daily cloud base / Fibo 38.2% of 112.40/109.02 descend) and showing initial signs of stall.
Daily RSI turned sideways and stochastic…
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Bears are taking a breather on oversold studies / profit-taking
Cable consolidates above multi-month low at 1.2714 on Monday after suffering heavy losses last week. The pair was down 2.1% for the week, as bears were additionally boosted by collapse of Brexit talks between Tory and Labor party.
Deeply…
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