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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Corrective dips to precede fresh upside; 10SMA expected to contain
The Aussie dollar holds in red on Wednesday, easing from recovery top at 0.7383, as risk aversion on the newest political turmoil in the US and overbought condition weigh on near-term bulls.
Corrective dips may extend as slow stochastic is…
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Profit-taking after failure at 20SMA barrier push the price lower
Cable eases from new recovery high at 1.2925, posted after four-day rally which accelerated on Tuesday on strong UK data.
Recovery was capped by falling 20SMA, with barrier reinforced by Fibo 38.2% of 1.3362/1.2661 descend.
Profit-taking…
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Consolidation after strong four-day rally
The Euro is consolidating in early Wednesday's trading, following strong bullish acceleration in past four days.
Rally from 1.1300 (15 Aug low) hit high at 1.1600 on Tuesday, but failed to close above falling 30SMA (1.1589) and Fibo 61.8%…
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Near-term tone firmed but cloud base / 10SMA still cap
The greenback firmed in late Asian trading after being hurt by fresh political case in the US and retests daily cloud base 110.52, which capped Monday's recovery attempts.
Barrier is reinforced by falling 10SMA (110.65), with firm break…
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Bulls face strong headwinds at falling 10SMA
Bulls are taking a breather on Tuesday, following two days of strong rally on softer dollar, after failing to take out barriers at $1194/95 (falling 10SMA / Fibo 61.8% of $1217/$1160 bear-leg).
North-heading momentum and slow stochastic…
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Tight range between 10 and 200SMA needs direction signal
WTI oil holds within tight range on Tuesday, extending choppy and directionless mode into third straight day.
Mixed fundamentals keep the price without clear direction, as expected impact on sanctions on Iran were offset by concerns about…
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Recovery extension cracks strong 20SMA barrier as Aussie receives fresh boost from weaker greenback
Reversal from 0.7202 (15 Aug low) extends into fourth straight day and probed through important barrier at 0.7357 (falling 20SMA / Fibo 61.8% of 0.7453/0.7202 bear-leg) but so far without clear break higher.
Further hesitation here could…
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Bears show strong hesitation at key 110.00/109.85 supports
The pair is consolidating after strong two-day fall which resulted in close below daily cloud.
Today's extension lower probed below key supports at 110.00/109.85 zone (double-Fibo / 100/200SMA's), but dip was so far short-lived, showing…
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