Fresh recovery offsets downside risk but break of key barrier at $71.17 needed for bullish signal
WTI oil regained traction and managed to cover a part of previous day’s losses, sparked by President Trump’s request to OPEC to lower prices.
Oil bounced from $70 zone where yesterday’s pullback found support, keeping overall bullish bias…
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Bulls may take a breather before attacking strong resistance at 0.7312
The Aussie dollar maintains firm bullish tone and rallies for the fifth straight day, to crack psychological 0.7300 barrier and hit new three-week high at 0.7304.
Bulls show signs of fatigue on approach to strong barriers at 0.7312 (Fibo…
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Bulls eye key barriers at 113.20 zone; dip buying remains favored
The pair hit new two-month high at 112.87 on Friday, in extension of broader uptrend, after fresh bullish signal was generated on Thursday’s close above 112.37 (Fibo 76.4% of 113.17/109.77 fall).
Bullish techs suggest further gains for…
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Bulls are consolidating around pivotal 1.1780 barrier before continuing rally
The Euro is consolidating in early Friday’s trading after 0.9% rally previous day (the biggest one-day gains since 29 June) and facing strong headwinds from pivotal Fibo barrier at 1.1780 (38.2% 1.2555/1.1300).
Thursday’s rally was capped…
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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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