Sterling rallies above 200SMA on fresh Brexit optimism
Cable rallied to new 10-week high at 1.3138 in Asia on Friday, following newspaper's report that Ireland is preparing to back PM May's plan B.
Revived hopes that UK might avoid no-deal Brexit boosted pound for eventual break above falling…
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Reaction on key 200SMA support would provide fresh direction signal
The pair extends bearish acceleration from Wednesday that eventually broke below four-day congestion and testing key 200SMA support (5.2606).
Lira remains steady and benefited from recent uncertainty, with additional support from CBRT’s…
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Bears remain on hold above key 1.1350 support, awaiting ECB for fresh signals
The Euro bounced from session low at 1.1339, posted after downbeat French PMI data, underpinned by unexpected jump in German Services PMI (Jan 53.1 vs 52.2 f/c) that offset negative impact from weaker than expected German Manufacturing PMI…
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Cable consolidates under 200SMA after first attack failed to break higher
Cable eased to 1.3027 in early European trading on Thursday after two-day over 1.5% advance failed to clear 200SMA (1.3078) on first attempt.
Traders took some profits on longs from daily cloud top, but bullish bias remains strong and sees…
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Fresh bears eye 0.7033 Fibo support
The Aussie fell sharply in Asia on Thursday following short-lived advance to 0.7166 on better than expected Australian jobs data, coming under increased pressure after NAB raised domestic mortgage rates.
Fresh bearish acceleration broke…
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Extension above 1.30 barrier pressures 200SMA pivot
Cable is comfortable above 1.30 barrier that was eventually taken out today after last week’s double rejection and subsequent corrective dip.
Improved sentiment on announced Brexit amendments (which still need to be passed) inflated pound…
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Loonie may fall further on weak Canadian retail sales
The pair eases on Wednesday after two-day advance faced strong headwinds from pivotal Fibo barrier at 1.3365 (38.2% of 1.3664/1.3179 descend) reinforced by falling 20 SMA (currently at 1.3375).
Recovery leg from 1.3179 (9 Jan…
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Turkish lira shows scope for further advance and test of key 200SMA obstacle
The pair trades within narrow range for the fifth straight day, with the upside being capped by a cluster of converged daily MA’s while the downside was protected by daily cloud top in past few sessions.
The action could be seen as…
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The cross falls to nine-week low as Brexit saga continues to boost pound
The cross holds in red for the third straight day and extends below pivotal supports at 0.8760 zone base (also Fibo 76.4% of 0.8656/0.9113 advance, to post new nine-week low (0.8749).
Sterling remains supported by fresh steer in Brexit…
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Pound remains at the front foot, underpinned by strong jobs data and steer in Brexit saga
Cable remains firm and consolidating within tight range in early Wednesday’s trading, following Tuesday’s advance on better than expected earnings data that revived hopes of possible BoE rate hike.
Technical studies on daily chart remain…
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