Risk of reversal while falling 100SMA caps
Dollar's slight bullish bias keeps gold price at the back foot on Monday.
The yellow metal holds within multi-day congestion after several attempts above falling 100SMA (currently at $1224) failed to sustain break, but risk of reversal…
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Limited recovery keeps the downside vulnerable
WTI oil price stands at the front foot in early Monday's trading, following Friday's bounce from daily cloud base, where bears were repeatedly rejected, but recovery attempts struggle at daily cloud top ($69.61) and were so far unable to…
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Eventual break above Fibo barrier at 112.74 to signal fresh recovery
The pair starts week in positive mode and cracked pivotal barrier at 112.74 (Fibo 38.2% of 114.54/111.62 bear-leg) after last week's repeated failures here.
Reduced safe-haven demand keeps yen at the back foot, with bullishly aligned…
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Break above 1.31 zone to signal recovery extension; Brexit remains key event for pound
Cable maintains positive tone at the beginning of the week, following last Thu/Fri strong downside rejection at daily cloud top (1.3012) and subsequent bounce.
Bulls attack again strong resistance zone between 1.3087 and 1.3103…
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Friday’s outside day was bullish signal but recovery faces a cluster of barriers
The Euro holds steady on Monday and moved higher in early European trading, after trading within narrow range in Asia.
Fresh advance extends Friday's rally and cracked daily cloud base (1.1545) and could attack next pivotal barriers at…
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Bounces on profit-taking seen as positioning ahead of fresh weakness
The Euro hit session high at 1.1494 in US trading on Friday, following bounce from key near-term support and target at 1.1432 (09 Sep spike low) which was touched earlier today.
Pre-weekend profit-taking on strong two-day fall on Wed/Thu…
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Loonie falls on weak Canadian data, strong greenback and oil price fall
The USDCAD pair rose to new five-week high at 1.3119 on Friday, on nearly 100-pip jump after disappointing data from Canada.
Canadian CPI m/m fell 0.4% in Sep vs -0.1% f/c, while annualized figure was 2.2% in Sep, falling below 2.7% f/c…
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Bears are taking a breather above daily cloud base
WTI oil consolidates above daily cloud base ($68.51) on Friday, following strong fall on Wed/Thu when oil price registered losses of nearly 5%.
Strong bearish acceleration was sparked by unexpected build in crude inventories, which further…
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Repeated failure to clear 0.7145 Fibo barrier keeps the downside vulnerable
The Aussie moved higher on Friday, supported by higher China’s stocks, in attempts to stabilize after losses in past two days.
Dips found support at 0.71 zone, however, the downside remains vulnerable as repeated failures to close above…
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The downside would remain vulnerable while 112.74 pivot caps
The pair regained traction and bounced to 112.50 zone on Friday after bulls were repeatedly capped by pivotal Fibo barrier at 112.74 (38.2% of 114.54/111.62) on Wed/Thu, which resulted is bearish acceleration on Thursday.
Fresh upside…
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