EURUSD risks pullback after initial attempt through 30SMA pivot failed
The Euro moves lower after spiking to 1.1839 on Thursday (the highest since 16 May) but failing to close above pivotal barriers at 1.1810 (Fibo 61.8% of 1.1996/1.1509) and 1.1817 (falling 30SMA).
Corrective dip is likely to precede fresh…
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USDJPY – strong 10SMA / Fibo support holds pullback from 200SMA for now
The pair stands at the back foot in early Friday's trading and maintaining negative tone after strong fall on Thursday.
The dollar came under pressure on strong rhetoric from G7 which reduced risk sentiment as G7 leaders are set to clash…
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The CBRT rate decision is the key event for Turkish lira today
The USDTRY holds in tight range on Thursday and awaiting key event today, the CBRT rate decision, due at 11:00 GMT.
The central bank is expected to hike rates in order to fight rising inflation, with expectations holding between 50 and…
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WTI OIL – outlook remains negative but consolidation above daily cloud base could extend
WTI oil price remains in red on Thursday and holds near two-month lows ($64.21/26) but downside attempts were so far contained by the base of rising daily Ichimoku cloud ($64.74).
Cloud base acts as strong support as spikes in past two…
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AUDUSD – bulls show strong hesitation at key trendline / Fibo barrier
The Aussie dollar holds in red in early European trading after upside attempts were repeatedly capped by bear-trendline at 0.7674 (drawn off 0.7988, 11 Feb high) and additional pressure came from weaker than expected Australia’s trade data.…
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USDJPY – extended consolidation likely to precede final push through 200SMA
Bulls are facing strong headwinds from 200SMA (at 110.17, reinforced by Fibo 61.8% of 111.39/108.11 bear-leg) which was cracked on Wednesday and caps today’s action.
Overall structure remains bullish and comfortable above broken daily…
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GBPUSD – break above falling 30SMA will generate next bullish signal for extension towards 200SMA
Cable extends higher in early European trading on Thursday and pressures falling 30SMA (1.3467) after bullish signal was generated Wednesday’s close above pivotal 1.3401/10 barriers (20SMA / 50% retracement of 1.3617/1.3204 bear leg).…
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EURUSD – bulls probe through key Fibo / 30SMA barriers; strong bullish signal seen on firm break
The Euro maintains bullish tone on Thursday and tests strong Fibo barrier at 1.1810 (Fibo 61.8% of 1.1996/1.1509 bear-leg, also pressuring falling 30SMA (1.1817) which reinforces resistance.
Bulls were boosted by positive signal generated…
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COPPER – step ascend hits new four-month high
Copper holds in strong bullish mode for the fourth straight day and probes above yesterday's new four-month high at $3.2485, following shallow corrective pullback to $3.1920 today.
Weaker dollar, solid global economic growth, which…
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GBPJPY – recovery may extend further but corrective dips can precede fresh rally
The cross holds firm tone on Wednesday and extends recovery rally from 143.19 (29 May low) into sixth straight day.
Bulls probe through falling 30SMA after taking out pivots at 147.21/40 (20SMA / Fibo 61.8% of 150.01/143.19 bear-leg)…
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