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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Recovery runs out of steam and pressures initial pivots at 108 zone
Recovery after flash crash low at 104.59 (03 Jan) showed strong signs of stall and capped by falling 10SMA (currently at 108.53), with Monday’s action holding in red and helped by bearish daily techs.
Fresh weakness pressures near-term…
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Bulls face strong headwinds from falling daily cloud; all eyes on parliamentary vote on Brexit plan
Cable holds in red in early European trading on Monday, as repeated attempts to penetrate daily cloud failed.
Daily cloud is falling and thickening and provides significant resistance, in addition to negative signal from bearish divergence…
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Strong support at 1.1444 under pressure after strong upside rejection and subsequent pullback
The Euro edges higher in early trading on Monday, but near-term outlook remains negative following strong losses in past two days that left bearish candles with long upper shadows.
Also, failure to clearly break above daily cloud (top of…
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Bullish bias above 10SMA for renewed attempt at $1300
Spot gold regained traction and moved higher in early Friday’s trading, as the dollar slipped on rising expectations that the Fed would pause its rate hike cycle this year.
The yellow metal remains congested between $1298 and $1276 for the…
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Recovery extension eyes daily cloud base as WTI is on track for the biggest weekly gain in six…
WTI oil extends advance on Friday after the action on Thursday ended in Doji, signaling a pause in recent strong rally.
Fresh upside pressures falling 55SMA ($53.68) and could extend towards key barriers at $54.54/$55.08 (4 Dec high / base…
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