Doji reversal pattern is forming on weekly chart and could be a signal for stronger correction
WTI oil extended recovery on Friday, boosted by fresh optimism over US/China trade talks and stronger than expected China’s Services PMI (Dec 53.9 vs 52.9 f/c).
Fresh bullish acceleration broke above falling 20SMA ($48.18) with Friday’s…
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Huge Hammer may signal stronger recovery; today’s key events eyed for further signals
The pair holds in green on Friday on optimistic signals about US/China talks which reduced safe-haven demand and put yen under pressure after five straight days of rallying.
Very strong downside rejection on Thursday suggests that bears…
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Extended rebound pressures strong Fibo barrier ahead key events
Cable remains constructive and extends recovery after Thursday’s flash crash and extends recovery towards pivotal Fibo barrier at 1.2694 (38.2% of 1.3174/1.2397 descend) in early European trading on Friday.
Strong downside rejection at…
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Positive tone ahead of US NFP / Fed Powell
The Euro stands at the front foot in early Friday’s trading and extends recovery from previous day’s 2 ½ week low at 1.1309.
Recovery probes above 1.1400 barrier, marking 50% retracement of Wednesday’s over 1% fall and keeping near-term…
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Spot Gold advances further on weaker dollar / safe-haven demand; psychological $1300 barrier in…
Spot gold reached new high at $1292 on Thursday (the highest since 10 June 2018), in extension of steep ascend, driven by increased safe-haven demand on fears of global growth slowdown and high market volatility.
The yellow metal rose over…
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Directionless mode exists as Fibo barrier at $47.01 caps recovery
WTI oil trades in a choppy mode on Thursday, amid volatile stocks and currency marks and still lacking clearer direction signal after three straight Dojis.
Recovery attempts from new multi-month low at $42.36 (2018 low, posted on 24 Dec)…
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Pound recovered ground after sharp fall overnight but weak tone persists
Cable maintains soft tone despite swift recovery after overnight’s crash to 1.2400 zone hit new lowest level since early April 2017.
Rising fears over the health of the global economy which prompted traders from riskier assets, keep…
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Strong barriers at 0.7000/42 to cap extended upticks and keep bears intact
The Australian dollar plunged to 10-year low in wild start of trading on Thursday, pulled by Apple forecasts warning and heavy sales in AUDJPY cross in strong safe-haven demand.
Quick recovery followed spike to 0.6706 low (the lowest since…
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Consolidation after ‘flash crash’ likely to precede fresh weakness
The pair spiked to new multi-month low in early Asian trading on Thursday, in ‘flash crash’ triggered by Apple’s unexpected quarterly sales forecast for China, which added to concerns about global growth.
Further strength of safe-haven…
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Spot gold advances on risk-off mode and cracks key Fibo barrier
Spot gold hit new 6 ½ month high at $1288 on Wednesday, in extension of recovery phase which started from $1160 in mid-Aug 2018.
The yellow metal remains well supported by renewed risk-ff mode as f=rising concerns about global growth…
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