Consolidation to likely extend as market eyes Powell; Fed minutes and US/China talks for stronger…
Spot gold edged higher on Monday but remains within choppy range between $1220 and $1230, as bull-leg from $1196 lost traction on attempts above pivotal barriers at $1225 (Fibo 61.8% of $1243/$1196 / bear-trendline off $1243 high).…
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Bears look for final break below psychological $50 support after consolidation
WTI oil ticked higher on Monday, consolidating last Friday’s (already named in the markets as ‘black Friday’) 6.5% fall.
Marginal recovery (0.7% so far) which was slightly above Fibo 23.6% of Friday’s $54.09/$50.09 fall, could be…
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Close above Fibo barrier at 0.7269 would be bullish signal
The Australian dollar rallied on Monday and recovered all losses from last Thu/Fri, to retest cracked Fibo barrier at 0.7269 (50% of 0.7335/0.7202 bear-leg.
Ability to hold above thick daily cloud would keep hopes for further recovery,…
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Fresh advance confirm daily cloud top as solid support
The pair hold firm tone in early Monday's trading and probed through pivotal 113.25 barrier (Fibo 50% of 114.20/112.30 bear-leg / 20SMA).
Fresh bullish acceleration emerged after Friday's action failed to sustain break into thick daily…
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Euro extends recovery despite weak German data; falling 30 SMA is key barrier
The Euro regained traction in early European trading and bounced through broken converging 10/20SMA's (1.1365), after Friday's low at 1.1327 proved as solid support and contained renewed attack.
Fresh recovery attempts so far retraced over…
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Lack of stronger reaction on Brexit deal suggests consolidation may extend
Cable showed little reaction to weekend's Brexit deal and traded within narrow range in Asia on Monday, with slightly higher levels seen in early European trading.
Near-term direction is still unclear, following last Thursday's strong…
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Oil hit new 2018 low on Friday
WTI oil remains in a free fall and fresh bearish acceleration on Friday hit new 2018 low at $51.72 (the lowest in thirteen months).
Fears of oversupply in oil market as forecasts for 2019 show the supply is going to exceed demand and…
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Fresh bearish acceleration could extend on break below pivotal supports at 0.7215/02
The Australian dollar fell on Friday, driven by strong fall in China’s stocks on rising concerns over China’s growth and doubts whether US President Trump and China’s Xi could reach the deal and prevent the escalation of persisting trade…
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Fall on downbeat German/EU data faces strong headwinds at key 1.1365/58 supports
The Euro accelerated lower on downbeat German / EU PMI data on Friday (German Nov Manufacturing 51.6 vs 52.3 f/c; Services 53.3 vs 54.6 f/c, the lowest since mid-2016 and EU Nov Manufacturing 51.5 vs 52.0 f/c; Services 53.1 vs 53.6 f/c).…
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Fresh bulls lack momentum for further advance
Cable is holding within narrow consolidation in early Friday’s trading following 0.8% advance on Thursday, after announcement that the UK and EU agreed on a draft of agreement on post-Brexit era.
Strong rally spiked to 1.2927 but failed to…
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