Bears remain fully in play on US/China trade conflict fears/ stronger dollar
Copper extends downtrend into fourth straight day, driven lower by fears of deepening trade conflict between the US and China, which could have strong negative impact on global demand and stronger dollar on renewed risk appetite.
Today's…
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Approaching Hurricane in the US and concerns about the impact of sanctions on Iran keep oil prices…
WTI oil accelerated higher on Tuesday, signaling continuation of broader uptrend after completion of three-day consolidation, which formed bullish pennant on daily chart.
Preparations for coming hurricane in the Gulf of Mexico, which…
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Fresh weakness after short-lived post-RBA rally retests key 0.7160 support zone
Post-RBA short squeeze was short-lived as the Aussie peaked at 0.7235, before falling sharply and posting new low at 0.7157 on renewed probe through key 0.7160 support zone (May/Dec 2016 / Jan 2017 lows).
Australian central bank kept…
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Fresh advance pressures daily cloud top again
The pair advanced strongly on Tuesday, driven by fresh strength of the US dollar and less hawkish than expected BoJ operations which increased pressure on yen.Friday's hammer candle signaled strong downside rejection and basing just ahead…
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Near-term outlook remains negative; UK data eyed for fresh signals
Cable holds in red for the fourth straight day and cracks 20SMA support at 1.2842 on Tuesday. Renewed Brexit concerns prompted traders out of pound, with bears being boosted by weak UK data on Monday.
Technical studies are in bearish mode…
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Firmer dollar keeps Euro at the back foot but key supports hold for now
The Euro extends lower in early Tuesday's trading and pressures again key supports at 1.1573/68 (30SMA / Fibo 38.2% of 1.1300/1.1733 upleg).
The dollar rose on fears that US/China trade conflict could escalate, as well as concerns about…
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Pound extends weakness after disappointing manufacturing data
The pound fell further on Monday, hitting session low at 1.2863, after UK manufacturing PMI disappointed in August (52.8 vs 53.9 f/c) falling to the lowest levels in two years.Downbeat data add to negative near-term outlook, as the pair…
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Mixed signals keep bulls on hold
WTI oil price holds with narrow and choppy range on Monday but remains above thin daily cloud after l rally from $64.43 (16 Aug low) showed signs of fatigue.
Bullish sentiment on fears of further output reduction from Iran, due to US…
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Bears are taking a breather before fresh attempts through key 0.7160 support zone
The Australian dollar bounces from new low at 0.7165 which lays just above strong supports at 0.7160 zone (May/Dec 2016 / Jan 2017 higher base), following strong fall last week (the pair was down 1.7% for the week).
Profit-taking after…
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Sideways mode could extend due to thin holiday markets; daily cloud base marks key support
The pair trades within narrowing range on Monday, holding in the middle of thick daily cloud, following strong downside rejection at cloud base (110.64) last Friday.
Mixed signals from daily techs suggest no clear near-term direction, but…
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