Brent hits new 2019 high
Brent oil cracked psychological $65.00 barrier on Friday and hit new 2019, in extension of the rally in past three days which generated bullish signal on Thursday’s close above pivotal barriers at $64.12/19 (daily cloud top / Fibo 38.2% of…
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Bulls probe above daily cloud as OPEC production cut underpins oil prices
WTI oil price cracked the top of falling daily cloud ($55.15) on Friday, extending advance into fourth straight day.
Voluntary production cut by OPEC members and their allies in order to tighten oil market, started giving results, with…
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Risk of deeper pullback on break below 10SMA
The pair stands at the back foot on Friday after double rejection under important 200SMA barrier and downbeat US retail sales on Thursday hurting the greenback.
Bearish extension in early Friday pressures pivotal supports at 110.22/19…
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Weekly close below 200WMA to confirm bearish stance and risk test of 1.1215/1.1186 pivots
The Euro stands at the back foot in early European trading on Friday and reverses gains of the previous day, when weaker than expected US retail sales (data showed the biggest drop in more than nine years) pressured dollar.
The greenback…
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Bears pause above daily cloud; UK retail sales eyed for fresh signal
Cable is consolidating above daily cloud top in early Friday’s trading following heavy losses in past two days.
UK parliament voted down PM May’s Brexit plan again on Thursday, increasing concerns over likely no-deal Brexit and adding…
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Recovery faces strong headwinds from 0.7246 Fibo barrier; little positive impact from strong China’s…
The Aussie dollar ran out of steam again at 0.7130 zone in late Asian trading on Thursday, following strong upside rejection on Wednesday and dipped back to 0.7100 zone.
Support from better than expected China’s data and positive rhetoric…
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Corrective dips may precede final attack at 200SMA
The pair consolidates around 111 handle following strong advance in past three days and remains bid for attack at 200SMA (111.28), violation of which would expose nearby barriers at 111.40 zone (late Dec high); 111.55 (Fibo 76.4% of…
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Wednesday’s bearish outside day weighs; bears eye key support at 1.1215
The Euro fell at the start of European session on Thursday and erased all gains of recovery rally in Asia, in attempts to extend Wednesday’s strong fall (the pair was down 0.6%).
Wednesday’s bearish outside day adds to negative outlook, as…
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Bears retake control as 100SMA continues to cap
Cable gets under fresh pressure in early European trading on Thursday after brief recovery attempts in Asia were capped by 100SMA (the action repeatedly closed below 100SMA in past three days).
Wednesday’s bearish candle with long upper…
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Roller coaster action on high volatility; weak CPI weighs; 100SMA remains key
Cable hit daily low at 1.2870 in early American session on Wednesday, on fresh weakness from daily high at 1.2958, hit after sizeable buy order was triggered minutes before noon fix.
Sterling returned to bearish mode after UK inflation…
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