Bulls return to play after shallow pullback
Brent price regained traction and moved higher on Tuesday, as hopes that Iranian oil exports could partially extend after US sanctions kick in November, faded after data released on Monday showed fall in Iran’s crude export in the…
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Bears look for break below 1.1463 to signal continuation
The Euro accelerated lower at the beginning of the European session after holding within narrow range in Asia on Tuesday.
Near term tone remains negative following Monday’s close in red, despite strong downside rejection at strong support…
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Narrow consolidation to precede fresh weakness as Euro comes under fresh pressure on Italy
The cross consolidates above new 3 ½ month low at 0.8776 on Monday, with limited upside attempts, as Euro comes under fresh pressure on Italian budget concerns.
Steep fall in past two week’s when the pair was down 2.1%, with break below…
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Violation of 200WMA is negative signal for deeper correction
The accelerated lower on Monday and cracked key support – weekly 200SMA (113.15), increasing pressure on next pivotal supports at 112.95 (Fibo 38.2% of 110.38/114.54) and 112.83 (rising 20SMA).
Increasing safe-haven demand on rising US…
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Break below daily cloud is negative signal
Spot Gold fell 1.3% on Monday on renewed risk appetite as traders increased dollar positions on strong hopes on further US interest rate rises.
Fall of Chinese stocks and yuan, as well extension of negative tone into European and US stock…
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Bears are taking a breather above psychological 0.70 support
The Australian dollar bounces from new low at 0.7041 (the lowest since Fed 2016, which was hit on Friday and retested today), as larger bears are taking a breather after last week's 2.4% loss ( the biggest one week fall since the last week…
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Pullback off new 4-year high is seen as correction before larger bulls continue
Brent oil extends pullback from new four-year high at $86.73 and broke below initial support at $83.35 (rising 10SMA), receiving negative signal from market expectations that part of Iranian oil export would continue after the US reimposes…
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Fresh safe-haven demand lifts yen; key 200WMA support under pressure
The dollar remains in red against yen and accelerated further down on Monday, extending losses of past two days after broader rally stalled at 114.54, where a double-top was left.Today's fresh weakness broke below initial support at 113.52…
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Daily cloud top to contain pullback and keep bullish bias
Cable eases on Monday after strong two-day rally on Thu/Fri, driven by positive Brexit news hit high at 1.3132.
Near-term structure is bullish, along with daily Ichimoku studies, favoring further upside after correction.
Daily Tenkan-sen…
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Bearish bias under daily cloud; Fibo support at 1.1422 in focus
The Euro stands at the back foot at the beginning of the week and maintains overall bearish bias after last week's recovery attempts were repeatedly capped by daily cloud base.
Stronger dollar on positive US jobs data and China's decision…
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