Directionless mode extends but Brexit fears keep the downside vulnerable
Cable holds in directionless mode for the third straight day, after Thursday’s post-BoE volatile trading failed to generate firmer direction signal.
Sterling was initially lower and hit new 2 ½ week low at 1.2854, following 9-0 vote to…
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Recovery picks up and focuses key 200SMA barrier
Recovery off 5.16 zone higher base (31Jan / 2Feb) is picking up and hit new high at 5.2668 today (one week high) after a higher low was left at 5.1827.
Recovery probed above sideways-moving 10SMA (5.2388) and is underpinned by…
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Aussie consolidates after 1.8% fall; bears keep key supports in focus
The Aussie dollar trades within narrow consolidation following 1.8% fall on Wednesday, triggered by signs for possible rate cut, with negative sentiment reinforced by downbeat New Zealand jobs data that sent Kiwi dollar sharply lower and…
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Bears crack key 1.29 support zone ahead of today’s key events
Cable stands at the back foot in early Thursday’s trading, ahead of key events: BoE interest rate decision, minutes of the previous meeting and quarterly inflation report, while UK PM May will meet EU leaders in attempt to agree changes in…
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Bulls show signs of stall by further signals needed confirm pullback
The cross eases on Wednesday after 1 ½ week recovery rally showed signs of stall at pivotal Fibo barrier at 0.8806 (38.2% of 0.9113/0.8617).
Repeated failure to clearly break higher resulted in fresh weakness, as the single…
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Risk of deeper pullback on stronger than expected build in US oil inventories
WTI oil stands at the back foot on Wednesday and extends weakness of past two days from new 2019 high at $55.73.
Fresh weakness cracked significant support at $53.12, but without clear break lower so far.
Momentum continues to weaken on…
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Extended range-trading following multiple failure at 110 resistance zone
The pair eases on Wednesday after the third straight failure at 110 zone, as traders took some profits on fears that bulls may stall her again.
Dip was so far contained by initial 10SMA support (109.46) but could extend as momentum…
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Bears are taking a breather above pivotal Fibo / 100SMA support at 1.2904
Bears found footstep at 1.2925, just above key support at 1.2904 (100SMA / Fibo 38.2% of 1.2397/1.3217), after four-day fall which accelerated on Tuesday, on strong bearish signal on break below 200SMA).
Pullback from 1.3217 (25 Jan high)…
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Bears need confirmation on close below daily cloud
The Euro remains in red for the third straight day and probed through daily cloud (1.1393/82) and 55SMA (1.1391) in early Wednesday’s trading, as fresh negative signal came from downbeat German factory orders (Dec -1.6% vs 0.3% f/c).…
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Aussie surged through key supports after RBA signaled possible rate cut
The Aussie dollar fell sharply in Asia and extended weakness at the beginning of European session on Wednesday, making so far loss of 1.3%.
Comments from RBA Governor Lowe overnight, who opened the door for possible rate cut that prompted…
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