Pound pulls back from new high as Brexit concerns rise after comments from UK minister
Cable dipped to session low at 1.3214 at the beginning of European session on Friday, on comment from UK minister that there will be no Brexit deal unless the European Union softens its position on the Irish border.
Pound rallied nearly 1%…
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Euro rallies almost 1% as dollar falls across the board
The Euro was up nearly 1% on Thursday, driven by weaker dollar as global concerns about trade war started to fade and markets expect Fed’s likely rate hike next week to have negative impact on the greenback.
Persisting concerns about the…
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Pound surged to 1.33 zone on upbeat UK data / weak dollar
Cable rallied strongly on Thursday, supported by weaker dollar and upbeat UK retail sales (Aug m/m 0.3% vs -0.1% f/c / core Aug m/m 0.3% vs -0.2% f/c; y/y Aug 3.3% vs 2.3% f/c / core Aug y/y 3.5% vs 2.5% f/c).
The pair surged through…
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Oil prices fell after President Trump criticized OPEC for high prices
Brent oil fell over $1 on Thursday after US President Trump criticized high oil prices and urged OPEC to lower them.
Oil prices moved lower in immediate reaction to Trump’s tweet, in which he linked American support to the countries in the…
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Bulls may hold in extended consolidation before resuming
The Aussie dollar consolidates after three days of strong rally but holds bullish tone for further extension of recovery from 0.7085 (11 Sep low).
Bulls probed again above pivotal 0.7268 barrier (Fibo 61.8% of 0.7381/0.7085 bear-leg) on…
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Risk of reversal increases after repeated failure at 112.37 Fibo barrier
Risk of reversal is growing after bulls repeatedly failed to close above cracked Fibo barrier at 112.37 (76.4% of 113.17/109.77 descend) with Wednesday’s trading ending in red and extended dips on Thursday penetrating rising thick hourly…
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Bulls look for clear break above $71.17 Fibo barrier to signal continuation
WTI oil hit two-week high at $71.33 on Thursday on renewed probe through pivotal $71.17 barrier (Fibo 61.8% of $75.34/$64.43 descend).
Bulls remain firmly in play and look for extension of previous day’s strong rally, when oil price…
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Bulls remain in play for fresh attack at 1.1733 pivot
Firmer tone in European session after quiet trading in Asia resulted in fresh probe above 1.1700 handle, following multiple failure to close above here.
Upticks in past few sessions were capped just under 1.1733 (28 Aug high), leaving…
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Pound stands at the front foot after double-Doji; UK retail sales eyed for fresh signal
Cable ticks higher in early European trading after trading within tight range in Asia on Thursday and probes again above key barriers at 1.3159/62 (falling 100SMA / Fibo 61.8% of 1.3472/1.2661).
Strong indecision is signaled by double Doji…
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Bulls show strong hesitation at 112.37 Fibo barrier, keeping in play risk of top formation
Wednesday’s action remains directionless for now and shaped in Doji candle, as bulls show hesitation after strong rally on Tuesday.
Conflicting daily studies (overbought slow stochastic in sideways mode and strengthening momentum) provide…
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