Italy / Brexit news keep the cross under pressure; oversold techs warn
The cross is consolidating within narrow range, above new low at 0.8723 (the lowest since 15 June) posted today.
Extension of bear-leg from 0.8988 (24 Sep high) cracked target at 0.8733 (Fibo 76.4% of 0.8620/0.9098 ascend) but without…
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Strong bullish acceleration shows signs of stall
Sugar 11 future contract for March maintains bullish tone and extends strong recovery rally to the highest since early March, following last week’s strong bullish acceleration which resulted in weekly gains of 13.4% (the biggest one-week…
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Bullish techs continue to underpin; US crude stocks data eyed for fresh signals
Brent price was slightly lower on Wednesday, consolidating Tuesday’s 1.2% rally, with negative impact from IMF’s lowered global growth forecast being partially offset by concerns about the hurricane that approaches the coast of Florida.…
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Recovery attempts face strong headwinds from 10SMA / Fibo barriers
Recovery rally from temporary base at 0.7042 extends into third straight day but rally was so far capped by falling 10SMA (0.7133), showing initial signs of stall.
North-heading slow stochastic which reversed from oversold territory…
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Bears face strong headwinds from important Fibo support at 112.95
Steep four-day fall from 114.54 double top found footstep at 112.95 Fibo support (38.2% of 110.38/114.54, reinforced by rising 20SMA), with consolidation under way in early Wednesday's trading.
Pullback should be ideally contained here to…
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Extended range trading on mixed signals
The Euro extends choppy directionless trading into fifth straight day, lacking catalyst which could provide fresh direction signal.
From one side, Tuesday's long-legged Doji candle (formed after strong downside rejection near Fibo 76.4%…
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Sterling extends gains on positive Brexit news; techs are mixed and UK data in focus
Cable extends gains on Wednesday and holding firmly in green for the second straight day, driven mainly by positive Brexit news.
Strong double downside rejections just above key daily cloud top support sidelined downside risk, with fresh…
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AUD holds in extended consolidation; eyes US inflation data for fresh signal
The AUDUSD pair holds within consolidation range above new low at 0.7042 (the lowest since Feb 2016) which extends into third straight day.
Bears are taking a breather ahead of psychological / option 0.70 support, with narrow consolidation…
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Direction signal expected on break of 20 or 10SMA pivots
The pair consolidates within narrow range on Tuesday after three-day pullback from 114.54 double-top cracked key support at 113.15 (200WMA) but was contained by rising 20SMA which continues to limit the downside (currently at 112.91).…
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Fresh weakness increases risk of testing key support – daily cloud top
Cable stands at the back foot on Tuesday and eases to 1.3050 (10SMA) after strong rally of Thu/Fri briefly extended on Monday to 1.3132 but failed to clearly break above converging 20/100SMA’s (1.3090/1.3102).
Fresh easing shifts near-term…
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