Stronger dollar after Fed increases pressure on metal’s price
Copper holds in red for the fourth straight day and hit one-week low at $2.7815 in extension of pullback from $2.8695/55 double-top, after bulls repeatedly failed to close above cracked Fibo barrier at $2.8425 (38.2% of $3.3140/$2.5510) and…
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Concerns of impact from sanctions on Iran offset negative impact from build of crude inventories
WTI oil regained traction and bounced to $72.58 on Thursday, as persisting fears on tighter oil markets on upcoming US sanctions on Iran offset negative impact from rise in crude stocks.
EIA report on Wednesday showed a build of 1.85…
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Aussie dips further after strong rejection above key 55SMA barrier
The Aussie dollar accelerated lower on Thursday after spiking to new one month high at 0.7314 immediately after Fed on Wednesday.
Probe above kay barrier at 0.7304 (falling 55SMA) was short-lived, with Wednesday's action ending in daily…
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Corrective easing needs to hold above 10SMA to keep bulls intact
The pair eases further on Thursday, following previous day's close in red after bulls stalled ticks ahead of key barrier at 113.17 (19 July high).
Formation of bearish outside day was negative signal for deeper pullback, despite positive…
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Post-Fed weakness risks test of key support at 1.3054
Cable accelerated lower in early Thursday's trading as hawkish Fed inflated dollar and put its major counterparts under pressure.
Near-term structure weakened after recovery of last Friday's strong fall stalled at 1.3217 on Wednesday, and…
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Signal of deeper pullback on extension below 10SMA
The Euro holds in red on Thursday and dips to one-week low at 1.1690, as hawkish Fed boosted the greenback.
As expected, the Fed raised interest rates by 0.25% but also removed the word accommodative from its policy statement, signaling…
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Bulls are taking a breather under Fibo barrier at 72.77; crude stocks report eyed for fresh signal
WTI oil eased from new 2 ½ month high at $72.79 on comment from US President about high oil prices and unexpected build in US crude stocks.
Bulls faced strong headwinds after Trump's message, with API report on Tuesday showing crude stocks…
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Risk of reversal on multiple upside failure
The Euro holds at familiar levels and within triangular directionless range, with negative signals growing after four consecutive failures to close above cracked pivot at 1.1780 (Fibo 38.2% of 1.2555/1.1300 descend).
Adding to negative…
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Bulls consolidate after cracking 113 barrier; Fed in focus
The dollar dipped to 112.75 in early European trading on Wednesday after eventually cracking psychological 113 barrier in Asia.
Overall bullish structure favors further upside and final attack at key barriers at 113.17 (19 July high) and…
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Gold edges higher after repeated downside rejection; FOMC in focus
Spot Gold moved higher on Tuesday and probes above $1200 barrier, after the action in two previous days failed to clearly break below base of thick daily cloud ($1195).
The yellow metal price holds within daily cloud for the third straight…
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