Bulls may extend consolidation before resuming; US crude stocks data eyed for fresh signal
WTI oil price rose on Wednesday after shallow dip to $75 previous day, but remains under new four-year high at $75.89, posted yesterday.Overall sentiment is bullish, as concerns about the impact on US sanctions on Iran rise and keep markets…
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Strong bearish signal on close below 0.7172 Fibo support
The Aussie dollar holds in red for the second straight day and extends weakness to new three-week low at 0.7156 on Wednesday.
Fresh weakness broke below pivotal support at 0.7172 (Fibo 61.8% of 0.70850.7314 rally), in the second attempt…
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Bulls remain fully in play above broken weekly 200SMA
The pair regained traction and moves higher on Wednesday, after previous day's shallow consolidation was contained at 113.50 zone.
Firm bullish stance remains intact above broken key barriers at 113.30/18 (Fibo 61.8% of 118.66/104.63 /…
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Bearish structure favors limited recovery ahead of fresh weakness
Cable moved higher and regained 1.30 handle in early Wednesday's trading, after previous day's bearish acceleration stalled at 1.2940.
Pound followed Euro's recovery on news from Italy, but limited upside attempts could be likely scenario,…
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Turkish lira showed limited reaction on Turkey’s CPI shock
The USDTRY jumped to 6.10 on Wednesday, after news showed Turkish inflation surged in September.
Monthly figure came at 6.3%, well above forecasted 3.6% and 2.3% previous month, while annualized CPI jumped to 24.5% from 17.9% previous…
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News from Italy provide temporary relief; bears in play under 1.1650
The Euro bounced on Wednesday after five-day fall from 1.1797 lower top found footstep at 1.1500 zone (psychological support / Fibo 61.8% of 1.1300/1.1815 ascend / daily cloud base).
News that Italy revises its budget plans, after initial…
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Gold surges above $1200 as Italian budget issue hits markets and sparks fresh safe haven demand
Spot Gold accelerated strongly higher in early American session Tuesday, gaining nearly 1.5%, in the biggest daily rally since 24 Aug, driven by fresh safe-haven demand on rising concerns about Italy’s budget issues.
The yellow metal price…
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Close below broken Fibo 50% support to provide fresh bearish signal
Cable extended losses on Tuesday to new three-week low at 1.2940, driven by weaker Euro on rising concerns over Italy's budget deficit, with action of Italian government coming in collision with EU budget rules.
In addition, weaker than…
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Base of thick daily cloud continues to limit recovery attempts
Spot Gold ticked higher on Tuesday as risk appetite on new trade agreement between the US and Canada started to fade and lifted yellow metal’s price.
Gains were so far limited as bulls face strong headwinds from thick daily cloud which…
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Bulls are expected to consolidate before continuing
WTI oil is consolidating within tight range under new four-year high at $75.89 on Tuesday, after strong rally last Thu-Fri resulted in weekly close above former 2018 high at $75.34, posted on 04 July.
Completion of $75.34/$64.43 corrective…
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