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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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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