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…
Read More...
Read More...
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…
Read More...
Read More...
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).…
Read More...
Read More...
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…
Read More...
Read More...
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,…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...