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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Fresh bearish signal on penetration of daily cloud and extension below psychological 1.30 support
Sterling fell below psychological 1.30 support against the dollar in fresh bearish acceleration on Tuesday, signaling continuation of bear-leg from 1.3297 peak, after Friday's action ended in long-legged Doji candle with long upper shadow.…
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Bulls consolidate under new 11-month high; scope for further advance
The dollar eases from new nearly 11-month high at 114.06 on Tuesday, taking a breather after three weeks of strong rally, which resulted in break and close above pivotal barriers at 113.22/30 (weekly 200SMA / Fibo 61.8% of 118.66/104.63…
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Aussie extends weakness after unchanged RBA
The Aussie dollar fell below 0.72 handle after Australian central bank left interest rates unchanged at 1.5% in October meeting.
The action was widely expected, increasing expectations that rates will remain low for an extended period as…
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