Strong US jobs data would further boost Euro bears
The Euro holds in red for the third straight day and extends weakness through strong Fibo support at 1.1170 (Fibo 61.8% of 1.1111/1.1264 upleg) in early European trading on Friday.
Wednesday’s bearish candle with long upper shadow that was…
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Sterling stands at the back foot ahead of key data
Cable accelerated lower in early hours of European session, remaining at the back foot and attempting to extend post-Fed weakness.
Double upside rejection and Thursday’s close below daily cloud base were bearish signals, with stronger…
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Strong rise of crude inventories weighs on oil prices
WTI oil price fell below $63 handle on Thursday, pressuring strong supports at $62.81/76 (rising 30SMA / Wednesday’s low), weighed by record US crude production that resulted in strong rise in US crude inventories (EIA report on Wednesday…
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Pound holds steady ahead of BoE
Cable regained traction and heads higher after post-Fed dip was short-lived as the action on Wednesday remained within daily cloud, with cloud base (1.3032) marking solid support.
Fresh advance probes again above 30SMA and Fibo 61.8%…
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Close above 200SMA needed to signal reversal
The pair stands at the front foot and probes above pivotal 200SMA (111.50) as steady Fed boosted dollar and near-term bears were strongly rejected at 111.05 on Wednesday.
Subsequent bounce formed bear trap pattern that signals further…
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Euro bulls on hold after steady Fed
The Euro holds within narrow consolidation in early Thursday’s trading following strong post-Fed dip on Wednesday.
The US central bank kept steady course, disappointing those who expected dovish steer, as initial signal on downgraded…
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Downbeat US data inflate Euro ahead of Fed
The Euro advanced further and cracked pivotal barrier at 1.1242 (Fibo 61.8% of 1.1323/1.1111 / falling 30SMA) as dollar was hurt by downbeat US data (Manufacturing PMI Apr 52.8 vs 55 f/c; Construction spending Mar -0.9% vs 0.3% f/c) which…
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Oil price holds positive tone ahead of crude inventories report
WTI oil price holds steady on Wednesday, following strong upside rejection on Tuesday and subsequent fall that was accelerated by strong build in US crude stocks (API report showed 6.8 mln bls build vs expected rise of 1.5 mln bls).
On the…
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Quiet trading ahead of Fed
The Aussie dollar holds in quite mode ahead of Fed’s decision today, after Tuesday’s long-legged bearish daily candle signaled that three-day recovery from 0.6982 low might be running out of steam.
Recovery action show hesitation…
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Break of 200SMA needs confirmation on close below 30 SMA; Fed eyed for fresh signals
The USDJPY pair holds in narrow consolidation between key points at 111.50 (200SMA) and 111.37 (Fibo 38.2% of 109.71/112.40, reinforced by 30SMA) in Europe on Wednesday.
Tuesday’s eventual close below 200SMA was strong negative signal…
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