Bulls consolidate under new one-month high/ daily cloud base is key support
Cable pulls back from new one-month high at 1.3179 (posted after 1.17% rally on Friday) as traders booked profits and dollar strengthens fresh on safe-haven demand.
Consolidation holds within daily cloud for now (rising 55SMA offered…
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Fresh safe-haven demand sent yen to five-week high vs dollar
The Japanese yen was among top gainers in Asian session on Monday, as comments of President Trump over the weekend raised concerns about escalation of US/China trade conflict and prompted investors into safe-haven assets.
Thinner market…
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Dollar eases as weak AHE offset positive impact from upbeat US jobs data
The pair dipped to session low at 111.18 after US jobs data, as initial positive sentiment on upbeat NFP (Apr 263K vs 181K f/c) and unemployment falling to 50-year low (Apr 3.6% vs 3.8% f/c) was soured by disappointing Average Hourly…
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Bears face strong headwinds from 200SMA support
WTI oil consolidates after strong fall on Thursday (3.2%) as bears stalled on approach to 200SMA ($60.71) and subsequent bounce resulted in close above cracked Fibo support at $61.40 (61.8% of $58.20/$66.58 upleg).
Oil price came under…
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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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