Repeated close above key Fibo barrier to signal recovery extension
The Euro regained traction on Friday and recovered the most of Thursday’s 1.1337/1.1294 dip after four-day rally stalled at falling 30SMA.
Thursday’s close in red and failure to repeatedly close cracked Fibo barrier at 1.1326 (38.2% of…
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Sterling stands at the back foot after parliament voted for Brexit delay
Cable ticked lower to 1.32 handle at the beginning of European session on Friday, following narrow range trading in Asia, after UK parliament voted for Brexit delay.
The lawmakers approved short delay in attempts to agree Brexit deal until…
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WTI Oil consolidates under new 2019 high
WTI oil hit new 2019 high at $58.65 on Thursday (the highest since 13 Nov 2018), in extension of strong bullish acceleration on Wednesday that resulted in eventual break and close above previous highs at $57.79/85.
Oil price was…
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Australian dollar falls on weak China’s data / news of delay in US/China talks
The Aussie fell on Thursday after downbeat data from China soured sentiment and came under increased pressure on news of delay of Trump/Xi meeting to at least April.
China’s industrial production growth slowed further and fell to the…
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Bullish signal on eventual close above 200SMA
The pair regains traction on Thursday and probes above 200SMA, which capped narrow-range action in past three days.
With downside being protected by rising 20SMA, bulls look for eventual break and close above 200SMA that would generate…
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Bulls run out of steam after cracking key Fibo barrier
The Euro eases from new recovery high at 1.1338, posted on Wednesday after strong four-day rally from 1.1176 (2019 low).
Bulls show initial signs of stall as momentum reverses down after failing at the midline and stochastic entered…
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Cable consolidates under new multi-month high
Cable stands at the front foot in early European session on Thursday and returned above 1.33 handle after pulling back from new multi-month high at 1.3381, posted after strong rally on Wednesday (the pair was up 1.8% for the day, the…
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Bulls struggle at 200SMA
The pair maintains positive near-term bias but remains stuck at pivotal 200SMA (111.40) which capped Tuesday’s action in extension of recovery from 110.78 trough (8 Mar).
Recovery remains underpinned by rising 20SMA (111.10) which…
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Extended recovery eyes next key barrier at 1.1326
The Euro extends recovery into fourth straight day and probes through 1.1297 barrier (10SMA / 50% of 1.1419/1.1176 bear-leg).
Positive near-term sentiment keeps focus shifted higher, with bullish signal on Tuesday’s close above double-Fibo…
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Cable remains highly volatile ahead of further parliament’s votes
Cable regained traction and bounced to 1.3148 (falling 10SMA) in early Wednesday’s trading, following highly volatile action on Tuesday, when the pair trade within nearly 300-pips range.
The British Parliament rejected again PM May’s…
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