Falling 20SMA continues to cap; 10SMA marks key support
Attempts to extend Friday's strong recovery rally were repeatedly capped by falling 20SMA on Monday, but the pair keeps bid on renewed risk appetite.
Daily MA's are mixed but weakening momentum and south-heading slow stochastic keep the…
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Hesitation at daily cloud top keeps risk of reversal in play
Early Monday's action holds in red after last week's three-day recovery rally stalled on approach to daily cloud top and Friday's action ended in Doji candle, signaling bulls might be running out of steam.
The dollar came under pressure…
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Direction signal on break of converging 10 or 20SMA
Cable holds in tight range and directionless mode in early Monday's trading, as falling 20SMA (currently at 1.2868) continues to cap, but pullback from recovery high at 1.2936 (22 Aug) has so far been contained by north-turning 10SMA…
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Bulls show hesitation at daily cloud base
The Euro moved lower at the beginning of the European session after hitting four-week high at 1.1653 in Asia, as the greenback opened lower on Monday after Fed chief Powell's speech on Friday was seen less hawkish than expected and…
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Fresh strength sidelines risk of pullback
WTI oil price continues to trend higher on Friday after bulls took a breather previous day, when the action was shaped in Hanging Man but negative impact was offset by fresh strength.
No significant results from US/China trade talks…
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Break above daily cloud top to spark further recovery
The pair maintains firm tone for the fourth straight day and pressures key barrier at 111.51 (daily cloud top) in extension of strong bullish acceleration on Thursday.
Daily MA's turned to bullish setup and momentum strengthened,…
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No clear direction while the price holds between 10 & 20SMA’s
Cable is taking a breather after strong fall on Thursday and consolidating above strong supports at 1.2789/81 (10SMA / bear-channel support line) which stayed intact, keeping risk of further weakness sidelined, despite formation of reversal…
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Bounce from key supports shifts focus higher
The Euro trades higher on Friday after previous day's fall was contained by 20SMA, sidelining risk of deeper pullback.
Rising bullish momentum on daily chart is supportive for further recovery and retest of key near-term barrier - falling…
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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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