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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Oil price hit three-week high on rising tensions between the US and Iran
WTI oil opened with 25 pips gap higher on Monday and rallied to the highest level ($63.78) since 1 May, boosted by rising tensions in Persian Gulf and signals that OPEC+ group would probably maintain production cut.
Though rhetoric from…
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Aussie bounces on election surprise but expectations of rate cut weigh
The Australian dollar rallied in early Monday’s trading, boosted by unexpected election victory of country’s center-right coalition.
The pair opened on Monday with gap-higher and advanced above 0.6900 barrier, recovering last week’s 1.8%…
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Pound falls further on collapse of Brexit talks
Disappointing news about the crash of Brexit talks between the UK’s two biggest political parties and rising pressure on PM May would step down, likely in June, further sores pound’s sentiment.
Cable fell further on Friday and holding just…
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