Bearish sentiment favors further downside; crude inventories report eyed for signal
Brent price holds in red for the second day and hit two-week low at $81.13 on Thursday.
Strong fall in US stocks affected oil prices, already pressured by rising fears of the impact of Hurricane Michael, the strongest storm that hit the US…
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Extended sideways mode between 0.7042 base and falling 10SMA
The Aussie dollar holds within congestion above multiple lows 0.7042, where temporary base has formed, with limited upside, capped by falling 10SMA, keeping the pair in the range.
Wednesday's steep fall reversed gains of previous two days…
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Bears consolidate above strong Fibo support at 111.97, awaiting fresh signal from US CPI data
Dollar's steep six-day fall found footstep at important Fibo support at 111.97 (61.8% of 110.38/114.54 rally).The pair is consolidating above new three-week low on Thursday, after the greenback suffered the biggest one-day losses since 06…
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Bulls eye key 1.3297 barrier but consolidation could precede
Cable extended above 1.3200/09 barriers (round-figure / Fibo 76.4% of 1.3297/1.2922 descend) and hit new high at 1.3244 (the highest since 21 Sep) on Thursday.
Weaker dollar and bullish sentiment on positive Brexit news, added to bullish…
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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…
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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…
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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…
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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…
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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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