USDTRY – rate hike provided temporary relief but short-term future could be turbulent
The USDTRY bounced from post-CBRT low at 4.5119 but upside attempts were repeatedly capped at 4.80 zone signaling that the rate hike two days ago managed to reduce the pace of lira's fall which approached psychological 5.00 barrier, hours…
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XAUUSD – 200SMA remains key for recovery
Spot Gold holds within narrow consolidation below new recovery high at $1306 on Friday and maintains firm tone following previous day's nearly 1% rally.The yellow metal rose on fresh safe-haven demand on uncertainty over US - North Korea…
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WTI OIL – bears pressure $70 support and risk deeper fall
WTI oil remains continues to move lower for the fourth straight day and pressures psychological support at $70 on Friday.
Fresh extension of pullback from $72.89 high which generated initial bearish signal on close below 10SMA on Thursday,…
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AUDUSD – bullish signal from inverse daily H&S but thick weekly cloud weighs
The Aussie dollar edged higher on Friday and retests highs of past two days at 0.7582, underpinned by formation of 5/30SMA bull-cross and keeping in play bullish bias on daily chart.
Strong bullish momentum also supports scenario as weekly…
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GBPUSD – UK GDP data eyed for stronger direction signal
Cable stands at the back foot and hit session low at 1.3334 in early European trading on Friday, following short-lived recovery attempt to 1.3421 on Thursday.
Near-term tone softened after warning from BoE Governor Carney on Thursday who…
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EURUSD may stay in extended consolidation while weekly cloud top holds
The Euro holds in red in early trading on Friday and probes through 1.17 handle as dollar firmed despite US - North Korea tensions.
Bears are taking a breather above weekly cloud top (1.1675) which was tested on Wednesday and may stay in…
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USDTRY – rate hike may temporarily cap weakness, but risk of testing 5.00 barrier remains in…
The USDTRY bounced to 4.79 zone on Thursday, retracing the big part of Wednesday's post-CBRT 4.88/4.51 fall, but the outlook for lira slightly improved after Turkish central bank eventually raised interest rate.
The CBRT's emergency…
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WTI OIL extends weakness as strong rise of crude inventories weighs
WTI oil remains in red for the third straight day and pressures Wednesday's spike low at $71.18.Concerns over strong rise in weekly oil inventories (US crude stocks rose 5.77 million barrels vs forecasted draw of 1.56 million barrels) and…
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GBPUSD rises on upbeat UK retail sales; falling 10SMA remains key n/t barrier
Cable broke above 1.34 handle in extension of recovery from new five-month low at 1.3305, boosted by upbeat UK retail sales (Apr sales rose 1.6% m/m, vs 0.8% f/c and downward revised March figure to 1.1%).
Strong UK data and weaker dollar…
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AUDUSD – bullish bias remains in play but break above 30SMA needed to confirm
The Aussie dollar holds in narrow range, consolidating after strong dip on Wednesday on renewed concerns about US tariffs.Strong downside rejection on Wednesday (20SMA contained spike to 0.7522) keeps alive hopes for fresh upside, as…
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