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…
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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…
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Lift above daily cloud would provide bullish signal and close above Tenkan-sen to confirm reversal
The pair extends recovery into the second day after strong fall last Fri/Mon stalled on approach to daily cloud base (112.16) and greenback was fueled by safe-haven buying on strong fall of stocks.
Recovery attacks daily cloud top (112.94)…
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Fresh direction signals expected on violation of pivots provided by 20 and 30SMA
The Euro regained traction and bonces through 1.14 barrier in early Wednesday, after 0.72 fall on Tuesday which left big bearish daily candle, also generated bearish signals on formation of bearish outside day and close below 1.1474 pivot…
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Techs point lower but May/Juncker meeting is in focus for direction signal
Cable consolidates around 1.28 handle in early Wednesday's trading after Tuesday's 0.5% fall on strong fall in stocks which boosted dollar on fears about global slowdown.
Near-term focus is shifted lower on weakening momentum and MA's in…
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WTI hits new one-year low on fresh bearish acceleration
WTI oil price fell to the session low at $53.62 (the lowest since Oct 2017) in steep bearish acceleration in early US session trading on Tuesday.
US stocks were sharply lower on opening, pressured by poor forecasts from retailers and…
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Repeated upside rejection under 10SMA and Monday’s Hanging Man are negative signals
WTI oil price eases on Tuesday, signaling that near-term corrective phase off $54.74 (new one-year low, posted on 13 Dec) might be running out of steam after being repeatedly rejected under pivotal barrier provided by falling 10SMA.…
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Bulls expected to remain in play while dips hold above daily cloud
The Australian dollar dipped further on Tuesday, following Monday's close in red, the first after strong four-day rally, which signaled bulls might be running out of steam.
Today's extension lower was triggered by lower stocks and hawkish…
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Bears could test daily cloud base as Friday’s long bearish candle weighs
The pair continues to trend lower, extending steep fall into third straight day and looking for test of daily cloud base (112.16) after fresh bearish extension on Tuesday broke below 112.45 pivot (Fibo 61.8% of 111.37/114.20) and generated…
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Strong headwinds from Mon high / double-Fibo barrier keep the upside limited ahead of Carney’s…
Cable stands at the front foot in early Europe on Tuesday but so far unable to clear Monday's high at 1.2883.
Bulls face headwinds here and from double-Fibo barriers at 1.2895/97 (38.2% of 1.3174/1.2722 & 50% of 1.3071/1.2722).…
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