Deeper correction could be anticipated after repeated failure at $1238 Fibo barrier
Spot gold trades in red on Monday as bulls start to lose traction after triple failure to firmly break above cracked Fibo barrier at $1238 (38.2% of $1365/$1160 fall).Several daily candles with long upper shadows signal rejection, but…
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Recovery accelerates on weaker Euro / German political news
The index rose nearly 2% in European trading on Monday, supported by weaker Euro and political news from Germany, as German Chancellor Angela Merkel said she will not seek re-election as a head of her CDU party in December.
Reversal signal…
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Corrective action struggles at 200SMA; negative fundamentals weigh on sentiment
Three-day recovery rally from new nine-week low at $65.73 (23 Oct) shows initial of stall on approach to daily cloud base ($68.11) and lacks momentum to sustain break above 200SMA ($67.49), following Friday's marginal close above it, after…
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Recovery needs break above converged MA’s for bullish signal
The Australian dollar stands at the front foot on Monday and cracked key barriers at 0.7095/97 (converged falling 10/20SMA's), following strong downside rejection on Friday, when the pair spiked to new low at 0.7020 (the lowest since late…
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Recovery after strong downside rejection probes above 55SMA pivot
The pair probes above 112 handle on Monday, following strong downside rejection on Friday and failure to take out cracked key supports - daily cloud; Fibo 61.8% of 109.77/114.54; rising 100SMA.
Friday's long-tailed candle is initial signal…
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Signals of correction forming on daily chart but limited upside seen so far
Bears are pausing on approach to key support at 1.1300 (15 Aug low) after Friday's action was strongly rejected at 1.1335 and left long-tailed bullish daily candle, which also formed bullish outside day.
Reversal of daily slow stochastic…
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Bears are positioning for fresh downside; modest impact from UK budget report expected
Cable is consolidating within narrow range above new nine-week low at 1.2776 in early Monday's trading, ahead of release of UK autumn budget.
Larger bears off 1.3257 (12 Oct high) are taking a breather after showed initial signs of stall…
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Acceleration through key supports on US GDP data risks deeper fall
The pair accelerated lower and cracked key support at 111.62 (15 Oct low) after US Q3 GDP data showed that the US economy slowed less than expected (Q3 3.5% vs 3.3 f/c and 4.2% prev). Markets got more cautious about interest rate outlook as…
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Bears look for eventual break below 24544 Fibo support
Dow Jones Dec future contract was slightly higher after better than expected US Q3 GDP on Friday and still holding above pivotal support at 24544 (Fibo 61.8% of 23050/26962 Feb / Oct rally), where downside attempts were repeatedly rejected.…
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Broken 200SMA caps and maintains bearish tone
WTI oil holds in red on Friday and signaling that bears are returning to play after recovery attempts in past two days were repeatedly rejected after failing to sustain probes above strong 200SMA barrier ($67.46).
Rising concerns about…
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