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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Negative sentiment on Brexit fears keeps bears firmly in play
Bears are taking a breather around 1.2811 (broken Fibo 76.4% of 1.2661/1.3297 rally) after strong bearish acceleration in past two days cracked psychological 1.2800 support and posted new seven-week low at 1.2796 but failed to close below…
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Bears eye targets at 1.1317/00 but consolidation may precede
The Euro consolidates within narrow range in early Friday, after two-day fall hit nine-month low at 1.1356 on Thursday.
The ECB left interest rates unchanged as expected, but central bank's president Mario Draghi, in his balanced…
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Break below key supports at 112 zone to provide bearish signal
The Japanese yen advanced on risk aversion in early Friday's trading and tests again key supports at 112.00 zone (trendline support / 55SMA) which so far resisted several attacks.
Despite fresh weakness, mixed daily techs do not provide…
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Risk aversion pushes Aussie through 0.7040 base
Strong risk-off mode pushed Australian dollar through 0.7040 base in late Asian trading on Friday, signaling continuation of larger downtrend, interrupted by 0.7040/0.7159 correction.
Break below 0.7040 pivot exposes psychological 0.7000…
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Bears resume after brief pause
Cable accelerated to new seven-week low after broader bears ended narrow recovery during Asian / European trading, with fresh weakness of Euro, pulling sterling lower.
Also, the greenback was higher across the board on strong Wall St start…
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The Euro extends weakness after unchanged ECB / Draghi
The Euro dipped to new nine-week low at 1.1370, maintaining strong bearish bias and lacking stronger excitement as unchanged ECB was in line with expectations and balanced comments of President Mario Draghi offered nothing new.
The single…
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