Extended pullback pressures key 1.30 support zone; UK data eyed for fresh signals
Sterling bulls gave up after strong upside rejection just under falling 30WMA (1.3183) on Wednesday and subsequent pullback which generated negative signal on formation of bearish outside day on Thursday.
Hawkish tone from Fed on Thursday,…
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Oversold conditions warn of correction but bears to remain intact while falling 10SMA caps
WTI oil is consolidating above new marginally lower 7 ½ month low at $71.19, posted on Wednesday in extension of massive fall which extends into fifth straight week.
Fading concerns about stronger impact on global supply from…
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The downside is vulnerable after Wed’s strong upside rejection; break below 10SMA to revive bears
The Euro stands at the back foot on Thursday after bulls were strongly rejected on Wednesday and the day ended in Doji with very long upper shadow.
Another negative signal comes from pair’s inability to register close above initial barrier…
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Bulls regain traction after Wed’s bumpy ride and pressure again key Fibo barrier at 113.80
The pair holds positive tone in early Thursday's trading and looks for retest of Fibo barrier at 113.80 (76.4% of 114.54/111.37) which capped previous day's attack.
Long-legged Doji was left on Wednesday after the action was rejected on…
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Aussie probes again above daily cloud/trendline, boosted by upbeat Chinese data
The Australian dollar holds positive tone and extends bull-leg from 0.7182 trough into fourth straight day.
Fresh extension higher offsets fears of rally's stall after bulls spiked 0.7299 (the highest since 26 Sep) on Wednesday but failed…
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Pound maintains positive tone but overbought techs warn on consolidative / corrective action
British pound is consolidating under new three-week high at 1.3174 in early Thursday's trading, with bulls show initial signs of fatigue.Strong upside rejection on Wednesday, overbought slow stochastic and south-turning momentum warn of…
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Copper rebounds on weaker dollar after US election; Bear-channel resistance line marks key obstacle
Copper bounced from $2.7235 low posted after strong two-day losses, when metal price fell over 3%.
Results of US midterm elections sent dollar lower across the board and boosted the metal price
Fresh recovery emerged above daily cloud…
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Bears take a breather on news of output cut in 2019; strong build in crude stocks weighs
WTI oil trades higher on Wednesday and holding in green for the first time since 26 Oct, when steep bear-leg commenced.
Reports that Russia and Saudi Arabia are discussing cuts in oil production in 2019 gave bears a breather, but recovery…
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Fresh bullish signal on extension above daily cloud
The Australian dollar advance further on Wednesday, extending steep recovery rally from 0.7020 (26 Oct spike low) and generates bullish signal on break above pivots at 0.7265/74 (100SMA / daily cloud top).Bulls were additionally boosted by…
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Pullback from one-month high seen as positioning for fresh advance
The pair dipped below 113 handle in early Europe, retesting Asian low in overnight's roller-coaster ride which started after the announcement of US midterm elections.
The pair spiked to one-month high at 113.81 on acceleration from session…
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