Risk of recovery stall would increase on failure to clearly break above daily cloud
The Euro continues to benefit from weaker dollar, pressured by fall of US stocks which had the worst performance in almost eight months.
Extension of recovery from Tuesday's spike low at 1.1432 penetrated daily cloud and dented cloud top…
Read More...
Read More...
Fresh weakness pressures important Fibo support at $73.05
WTI oil accelerated lower in early US trading on Wednesday and hit session low at $73.40. Fresh weakness in the Wall Street pushed oil prices lower, with traders looking for the impact of Hurricane which hit the Gulf of Mexico.
With…
Read More...
Read More...
Bearish signal on eventual break below 112.95 Fibo support
The dollar accelerated lower to new two-week low at 112.73 against yen as US stocks fell in early trading on Thursday.
Fresh weakness emerged from session high at 113.28, where recovery attempts stalled and generating negative signal on…
Read More...
Read More...
Little impact from mixed UK data as Brexit optimism continues to boost sterling
Cable returns to strength and retests European high at 1.3185, after shallow correction on mixed UK data found ground at 1.3136.
UK GDP was flat in Aug vs 0.1% forecast while quarterly figure was 0.7% vs 0.6% f/c.
Manufacturing production…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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.…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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%…
Read More...
Read More...