Tuesday’s fall dents bullish bias but break below 10SMA needed to confirm reversal
The Euro is slightly higher in early Wednesday's trading, following Tuesday's pullback after three-day recovery rally stalled at key Fibo barrier at 1.1718.
Dips was so far contained above 10SMA (1.1623) which marks lower pivot but…
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Risk of further weakness while broken 10SMA caps
Cable holds in a narrow consolidation above 1.3192 low posted on Tuesday's fall and remains at the back foot, as near-term focus turned lower after repeated failure under 20SMA and subsequent bearish acceleration.Break and close below 10SMA…
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Recovery on fading trade fears struggles at 110 and looks for catalyst to emerge out of two-day…
The pair moved higher as dollar strengthened on fading trade war fears and signaling repeated failure to clearly break into daily cloud.
Tuesday's action is on track to leave the second consecutive daily candle with long tail and this time…
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Bears could extend towards key support at $1236; falling 10SMA to cap upticks
Spot Gold holds firmly in red for the second straight day as the greenback regained traction but showed no benefits from safe haven demand on risk aversion, sparked by fears of deeper trade conflict.
The yellow metal hit new over six-month…
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Bears look for test of key supports at $2.9425/$2.9370
Copper holds firmly in red for the third straight week and broke below psychological $3.00 support on Monday's extension of steep downtrend from $3.3140 peak (07 Jun).
Pullback from $3.3140 has nearly fully retraced $2.9370/$3.3140…
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Limited correction keeps bullish sentiment remains in play for fresh attempts higher
WTI oil price rose on Tuesday, as uncertainty over Libyan exports partially offset negative impact from OPEC decision to increase output and fears of escalation of trade conflict between the US and other world major economies.
Oil price…
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Near-term risk skewed lower while falling 10SMA caps
The Aussie dollar remains at the back foot on Tuesday and pressures lower pivots at 0.7399/94 (5SMA / base of thick hourly cloud) following Monday's close in red after repeated upside failure which left a double-top.
Falling 10SMA capped…
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Risk aversion and bearish techs keep the downside at risk
The pair remains in red in Asia / early Europe on Tuesday and probes again into thick daily cloud, following unsuccessful attempt on Monday.
Risk-off mode keeps the dollar under pressure, as Monday's eventual close below 20SMA after four…
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Risk of reversal exists while the action remains capped by 20SMA
Cable traded within tight range in Asia on Tuesday, capped by 20SMA for the third straight day, which could increase risk of reversal on repeated failure.
Negative momentum studies and overbought slow stochastic keep near-term risk skewed…
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Consolidation may precede fresh upside; broken 20SMA to ideally contain
The Euro maintains firm tone and cracked pivotal barrier at 1.1718 (Fibo 61.8% of 1.1848/1.1508 bear-leg) in early Tuesday's trading after generating bullish signal on Monday's close above previous pivot, marked by 20SMA and converged daily…
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