New PM election provides temporary relief, but overall bearish picture keeps the risk skewed lower
The Aussie dollar bounced on Friday, gaining 0.6% in Asia after election of new ruling party leader signaled an end of political crisis.
Fresh rally so far retraced nearly 38.2% of bear-leg from 0.7381 in past two days, as Thursday's fall…
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Bullish bias remains in play while 20SMA holds the downside
The Euro is slightly firmer at the beginning of the US session, as weaker than expected EU / German Manufacturing data showed mild impact and so far not reacting on better than expected US weekly jobless claims figures.
Near-term action…
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Fresh weakness could extend towards $11.80/75 on break below $1186 pivot
Spot Gold price tested support at $11.86 (Fibo 38.2% of $1160/$1201 rally) in extension of pullback from $1201 (22 Aug high).
Reversal pattern is forming on daily chart after recovery rally from $1160 (16 Aug low) failed at psychological…
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Fibo support at $66.70 to contain corrective dips and keep bulls in play
WTI oil price moved lower on Thursday, consolidating previous day’s over 3% rally, as rising concerns over US-China trade conflict offset positive impact of unexpectedly strong fall in crude stocks (EIA report on Wednesday showed…
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Bulls look for break above strong 111 resistance zone to resume
Recovery from 109.77 (21 Aug low) extends into third straight day, additionally boosted by hawkish Fed minutes and penetrates thick daily cloud (cloud base lays at 110.64).
Rally faces strong headwinds at 110.90/111.00 zone (converged…
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Bulls show signs of stall; extension below 1.2831 to signal reversal
Cable holds in red on Thursday and seeing risk of deeper pullback after near-term bulls repeatedly failed to clear falling 20SMA (also Fibo 38.2% of 1.3362/1.2661 descend) and Wednesday's action ended in Doji.
Reversal pattern is forming…
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Corrective dips seen as positioning for fresh upside while broken 10SMA holds
The Euro stands at the back foot in early Thursday's trading, pressured by stronger dollar after hawkish Fed and initial signs of stall of recent strong five-day rally.
Near-term bulls showed strong rejection at falling 55SMA, which marks…
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Aussie falls 0.8% on political turmoil / stronger greenback
The Aussie dollar fell 0.8% in Asia on Thursday, driven by political turmoil in Australia, as resignation of three senior ministers undermined position of Australian Prime Minister.
Aussie dipped to one-week low at 0.7283, also pressured…
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Consolidation is likely to precede fresh rally; Turkey’s inflation data could be a trigger
The USDTRY pair holds within tight range on Wednesday after bounce from correction low of recent strong rally at 5.6875, showed signs of stall.
Lira showed mild reaction on recent news from the US as Turkish markets are closed for…
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Oil price advances on bullish fundamentals
WTI oil price rose on Wednesday, keeping bullish near-term bias and extending gains into third straight day.
Fundamentals were boosted by unexpected fall in crude stocks (Tuesday’s API report showed draw of 5.17 million barrels compared to…
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