Bulls penetrate daily cloud and look for fresh extension higher
The Euro maintains firm tone at the beginning of the week and attempts to extend gains from last Friday, when US jobs data sent the greenback lower, as slower than expected wage growth overshadowed strong non-farm payrolls data which…
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SPOT GOLD – consolidation to precede final push towards $1236 target
Spot Gold moved higher on Friday but stays near new low at $1245 (the lowest since mid-Dec 2017) posted on Thursday.
Weaker dollar gave a breather to gold bears, but bearish techs and sentiment limit recovery attempts and keep strong…
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WTI OIL – limited downside on consolidation under new high but deeper correction could be…
WTI oil holds firm on Friday after pullback from new 3 ½ year high at $74.01 (posted on Friday) found footstep at $72.92 before the price moved higher again.
Expectations were for deeper pullback on profit-taking at the end of the week,…
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AUDUSD – recovery acceleration sidelines immediate downside risk
The Aussie dollar cracked 0.74 round-figure barrier (also Fibo 61.8% of 0.7442/0.7322 bear-leg and base of thick 4-hr cloud) on strong bullish acceleration in Asia on Friday.
The pair dipped to new 17-month low earlier this week but…
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USDJPY – fresh bullish signal on extension above triangle resistance
The pair hit new two-week high at 110.78 on Friday, supported by rally in EURJPY cross, extending recovery rally into fourth straight day.
Fresh advance probes through trendline resistance / Fibo 76.4% of 111.39/108.11 at 110.62, opening…
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GBPUSD – recovery attempts need break above falling 10SMA for bullish signal
Cable was up in early trading on Friday, dragged by Euro's advance on migration deal, but recovery was so far limited by falling thick hourly cloud which continues to weigh.
Initial bullish signals were generated on daily RSI reversal from…
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EURUSD – strong rally in Asia sidelines near-term bears
The Euro accelerated higher in Asia on Friday after the EU leaders reached an agreement on migration.
The rally broke through pivotal 10SMA barrier (1.1614), sidelining threats for retest of key support at 1.1508 (21 Jun low) as past…
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Bounce on hawkish BoE MPC member seen as temporary relief
Cable bounced from new multi-month low at 1.3049 on Thursday and retested former key support at 1.3101, boosted by hawkish comments from BoE's chief economist Haldane.
Bears showed hesitation on approach to strong supports at 1.3038 (03…
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Profit-taking may delay bears for final push towards $1236 target
Spot Gold is holding within tight consolidation above new over six-month low at $1248 posted today, with oversold daily studies suggesting gold price may enter consolidative / corrective phase in coming sessions.Steep fall from lower top at…
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Violation of base at $2.94 zone could trigger further extension of downtrend from 2018 high
Copper hit new over three-month low at $2.9535 on Thursday, in extension of steep fall from 2018 high at $3.3140 (posted on 07 Jun) which lasts almost three weeks.
Bears so far show no signs of fatigue despite oversold conditions and…
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