Cable surges after EU/UK deal announcement, but rally needs confirmation on close above 20SMA
Cable jumped around 130 pips on Thursday on news that EU and UK Brexit negotiators reached an agreement on draft text of post-Brexit ties between the European Union and United Kingdom.
Eventual deal after Brexit talks repeatedly stalled,…
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Dow returns to red after short-lived consolidation
Dow stands holds in red on Thursday and hit new marginally lower three-week low at 24323, signaling that this week’s steep fall which paused on Wednesday, is going to continue.
Brief consolidation on Wednesday, ended in strong upside…
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Sustained break above key Fibo/trendline resistances would signal bullish continuation
Spot gold moved above $1225 pivot (Fibo 61.8% of $1243/$1196) on Thursday after being congested in past few sessions and unable to close above despite strong upticks $1228/30).
Fresh rally was boosted by weaker dollar, but sustained break…
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Fresh upside attempts struggle at 30SMA on holiday-thinned market
The Euro stands at the front foot in early Thursday’s trading and probes again above falling 30SMA (1.1407) after Wednesday’s recovery attempt stalled just above it and subsequent pullback signaled strong upside rejection on daily candle…
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Bears are taking a breather after 7% fall on Tue; outlook remains negative below falling 10SMA
WTI oil bounced from new low at $52.76 (the lowest since late Oct 2017) on Wednesday, after falling nearly 7% on Tuesday (the biggest one-day fall in Nov).
Tuesday’s fresh bearish acceleration completed short-lived $54.74/$58.14 correction…
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Long red candle weighs; failure at cloud top to maintain downside risk
The Australian dollar is in recovery mode on Wednesday, after suffering heavy losses previous day when the pair was down over 1% in the biggest one-day fall in Nov.
Bounce from one-week low at 0.7202 faces strong headwinds from daily cloud…
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Lift above daily cloud would provide bullish signal and close above Tenkan-sen to confirm reversal
The pair extends recovery into the second day after strong fall last Fri/Mon stalled on approach to daily cloud base (112.16) and greenback was fueled by safe-haven buying on strong fall of stocks.
Recovery attacks daily cloud top (112.94)…
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Fresh direction signals expected on violation of pivots provided by 20 and 30SMA
The Euro regained traction and bonces through 1.14 barrier in early Wednesday, after 0.72 fall on Tuesday which left big bearish daily candle, also generated bearish signals on formation of bearish outside day and close below 1.1474 pivot…
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Techs point lower but May/Juncker meeting is in focus for direction signal
Cable consolidates around 1.28 handle in early Wednesday's trading after Tuesday's 0.5% fall on strong fall in stocks which boosted dollar on fears about global slowdown.
Near-term focus is shifted lower on weakening momentum and MA's in…
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WTI hits new one-year low on fresh bearish acceleration
WTI oil price fell to the session low at $53.62 (the lowest since Oct 2017) in steep bearish acceleration in early US session trading on Tuesday.
US stocks were sharply lower on opening, pressured by poor forecasts from retailers and…
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