Risk of deeper pullback on break below 1.2897 Fibo support
Cable stands at the back foot and pressures key support at 1.2897 (Fibo 38.2% of 1.2661/1.3043 rally), following two-day pullback from last week's recovery high at 1.3043 and Monday's gap-lower opening.
Near-term bulls are running out of…
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Bulls remain in play as pullback finds footstep above pivotal supports at 1.1577/68
The Euro moved higher in early European trading and covered small gap from the opening, as last week's two-day pullback from upside failure at daily cloud, found footstep just above solid supports at 1.1577 (30SMA) and 1.1568 (Fibo 38.2% of…
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Soaring inflation keeps lira under pressure; CBRT policy meeting in focus
Turkish lira hit session low at 6.7339 in early Monday's trading as release of CPI data showed Turkish inflation rose further in August and hit the highest in 15 years at 17.9%, overshooting forecast at 15.85%.
Lira managed to recover part…
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Break below daily cloud base risks deeper pullback
The Euro stands in red during mid-European and early US trading and extends pullback through initial support at 1.1656 (base of thin daily cloud).Thursday's close in red created bearish outside day pattern, generating initial negative…
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Lira’s bears take a breather; Inflation report in focus for fresh signals
Turkish lira rose on Friday, taking a breather of four-day fall which hit the lowest since 13 Aug record low, on spike to 6.8379 on Thursday.
Fresh support to lira came from decision to lower withhold taxes on lira's deposits and increase…
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Bears look for extension towards key support at 0.7202
The Australian dollar extends weakness on Friday, holding firmly in red for the fourth consecutive day and on track for strong bearish weekly close.
Extension of Thursday's strong bearish acceleration was partially limited by better than…
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Fresh bears look for extension below daily cloud base
The pair remains under increased pressure on Friday, with extension of previous day's strong fall (down 0.64% in the biggest one-day fall since 20 July), which formed bearish outside day and generated initial negative signal.
Repeated…
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Weekly close above 1.30 would signal further upside
Cable remains firm and holding above 1.30 on Friday but lacks strength for attack at pivotal barrier at 1.3052 (falling 55SMA).
Momentum remains strong but starts moving sideways, with overbought slow stochastic, generating initial signal…
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Extended consolidation is seen as likely scenario before bulls resume
The Euro holds in a narrow range and within narrowing daily cloud in early Friday's trading, maintaining bullish bias despite Thursday's close in red.
Overall bulls are showing signs of fatigue as slow stochastic reversed from overbought…
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Bulls eye levels above $70, helped by fears over Iran / lower crude stocks
WTI oil price consolidates within narrow range above thin daily cloud on Thursday, after strong rally previous day, which eventually broke and closed above pivotal barriers at $68.60/92 zone (Fibo 38.2% of $75.34/$64.43 descend;…
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