WTI holds positive tone on Venezuela; US crude inventories report eyed for fresh signals
WTI oil maintains positive tone on Wednesday and extended into the upper part of near-term $54.48/$51.32 congestion, after Tuesday’s bullish close neutralized downside risk.
Concerns on oil supply disruption to the US on fresh sanctions on…
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Aussie rallies on CPI data but faces headwinds from daily cloud top
The Aussie cracked 0.7200 barrier on fresh bullish acceleration, sparked by better than expected Australian CPI (Q4 0.5% vs 0.4% f/c).
The advance reversed the pullback of past two days and emerged above converged 100/55SMA’s (0.7171/81)…
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N/t action remains congested between cloud top and 100SMA; Tuesday’s Doji adds to mixed outlook
The Euro shows strong indecision following break above daily cloud, as Tuesday’s trading ended in Doji candle and the action of early Wednesday was so far in the same shape and remains capped by 100SMA (1.1447).
Mixed daily studies…
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Pullback found solid support at 200SMA; Fed comments eyed for fresh signals
Cable is consolidating above 200SMA in early Wednesday’s trading, following 0.7% fall on Tuesday after UK lawmakers voted down an amendment to extend the deadline for Britain to leave EU.
Pullback from last Friday’s multi-week high at…
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Recovery from 200SMA struggles to extend and keep risk of fresh weakness in play
Monday’s close above daily close base, following bounce after short-lived probes below 200SMA, was initial positive signal.
Recovery extension cracked converged 55/30SMA’s (5.3358 / 5.3459) but without clear break for now.
Fears that lira…
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Gold advances on safe-haven demand ahead of key macroeconomic events
Spot gold extends advance to new nearly nine-month high at $1309 on Tuesday, after Monday’s Doji candle signaled a pause after last Friday’s 1.7% rally (the biggest one-day gains since 11 Oct 2018).
The yellow metal benefits as traders…
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Oil price regains traction on Venezuela’s sanctions but risk of deeper pullback exists
WTI oil price edges higher on Tuesday after previous day’s strong fall was rejected just above daily cloud base and today’s action is supported by formation of 20/55SMA bull cross.
However, weakening momentum on daily chart warns of…
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Bulls struggle at 100SMA; no clear direction signal as techs are mixed
The Euro holds in green for the third straight day and extended advance to new two-week high at 1.1450.
Bulls were capped by 100SMA so far and may struggle to break higher despite strong bullish signal generated on Monday’s close above…
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Increased volatility expected on key event of the day – parliamentary vote on Brexit plan
Cable holds in red in early Tuesday and extends weakness off new high at 1.3217 into second straight day.
Technical indicators started to point lower on daily chart, suggesting further corrective easing, but the action could be limited as…
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Recovery after strong fall faces headwinds from 10SMA
The USDCAD bounced on Monday, recovering so far nearly a half of strong fall on Friday (the pair was down nearly 1%), when the greenback fell across the board.
Strong bearish acceleration was repeatedly contained by the base of rising…
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