Mixed near-term outlook while the price holds between 55 and 10SMA’s
The Euro consolidates after strong fall on Tuesday which generated negative signals on close below daily cloud top / 20SMA (1.1433/20) but failed to clearly break below significant Fibo support at 1.1392 (50% retracement of 1.1215/1.1569…
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Directionless mode between 55/100SMA’s and daily cloud base
The Australian dollar eased on Tuesday, pressured by reduced risk appetite but remains within narrow range that extends into third day.
Recovery rally from spike low at 0.6706, posted after 3 Jan flash crash, faces strong headwinds from…
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Positive tone above 10SMA but falling daily cloud continues to weigh
WTI oil edged higher on Tuesday and holding above $51 handle as two-day pullback from new recovery high at $53.29 stalled on approach to psychological $50 support.
Near-term picture remains bullish but recovery leg from $42.36 low was so…
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Violation of 1.1447/22 support zone would spark further weakness
The Euro came under pressure in early European trading on Tuesday and eased from Asian high at 1.1489, shifting near-term risk lower, after Monday’s positive close signaled that strong two-day pullback may be over.
Solid supports at 1.1447…
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Pound holds under key barriers ahead of key Brexit vote
Cable holds firm tone in early Tuesday’s trading, hours ahead of parliamentary vote on Brexit deal.
Monday’s Doji candle and failure to clearly break above pivotal barriers at 1.2877/1.2894 (Fibo 61.8% of 1.3174/1.2397 / 100SMA) signals…
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Pound may rose further on Brexit plan rejection
The cross stands at the back foot on Monday following Friday’s sharp fall (the pair was down1% for the day) as pound maintains positive sentiment on wide expectations that UK PM’s Brexit plan will be rejected that may force the UK to stay…
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Weak data and worsening geopolitical situation increase pressure on lira
The USDTRY moved higher on Monday and approached last week’s high at 5.5449, the highest after 03 Jan slash crash spike at 5.8767.
Turkish lira was hit today by weaker than expected Turkey’s industrial production (Nov -6.5% vs 5.7% f/c)…
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Fresh attempts higher pressure near-term congestion top
Spot gold rebounds on Monday and heads towards the upper boundary of near-term congestion.
Friday’s action ended in inverted hammer candle and remained above rising 10SMA which continues to underpin.
Overall structure remains bullish but…
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Recovery may be paused for deeper pullback
WTI oil holds in red for the second straight day, with fresh weakness on Monday being boosted by weaker than expected China’s export/import data.
Friday’s bearish outside day was initial signal of reversal after strong recovery rally from…
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Daily cloud base continues to limit post-flash crash recovery
The Australian dollar faces strong headwinds from daily cloud base (0.7207) and eases on Monday after repeated failure to penetrate daily cloud.
Bearish divergence on daily slow stochastic and significantly weaker than expected China’s…
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