USDTRY – another negative release from Turkey keeps lira under pressure for retest of 4.3741…
The USDTRY pair extended recovery on Monday to 4.35 but was so far unable to hold gains and fell back to 4.30 zone.
Footstep was found at 4.30 zone and this could be a base for fresh extension higher.
Friday's strong recovery rally from…
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SPOT GOLD – break through $1316 or $1322 pivots to generate clearer direction signal
Gold price dipped to $1317 low on Monday, remaining at the back foot following Friday's strong upside rejection at $1325 and daily close in red.
Dip was so far contained by thick hourly cloud and found temporary footstep just ahead pivotal…
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AUDUSD – recovery faces strong headwinds from Fibo / 20SMA barriers
The Aussie dollar maintains bullish bias and retests key barrier at 0.7565 (Fibo 38.2% of 0.7812/0.7412 bear-leg) reinforced by falling 20SMA, where recovery leg from 0.7412 low faces strong headwinds.
Strong bullish signal has been…
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USDJPY – bullish bias remains intact after shallow pullback; 110 barrier and 200SMA focused
The pair regains traction and returns above 10SMA (109.40) in early European trading on Monday, after two-day pullback from 110.00 barrier met bids at 109.15 (Fibo 61.8% of 108.64/110.01 upleg) on Friday.
Overall bullish structure keeps…
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GBPUSD holds in extended sideways mode; the downside remains vulnerable
Cable was a tad higher in early Monday's trading but remains within multi-day range. Multiple Doji's confirm strong indecision after steep fall from post-Brexit recovery high at 1.4376 started to run out of steam but basing attempts so far…
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EURUSD maintains positive near-term tone; eyes key barriers at 1.2018/46
The Euro stands at the front foot at the beginning of the week and attempts to extend recovery leg from last week's low at 1.1822 (the lowest since 22 Dec).
Weaker dollar on fading expectations for more aggressive Fed's approach to the…
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EURJPY – recovery faces strong barriers from daily cloud base / 10SMA
The cross extends recovery leg from 129.23 (08 May low) into third consecutive day, but fresh bulls face strong headwinds from tough barriers at 130.68 (base of thick daily / 4-hr clouds, reinforced by falling 10SMA / daily Tenkan-sen).…
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USDCAD – strong bears take a breather before continuing
The Canadian dollar reversed from fresh three-week high at 1.2729 against the US dollar despite downbeat Canada's April labor data, as US import price index, released at the same time, fell below expectations.
Canada's employment change…
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COPPER rallies further on lower inventories and signs of strong demand
Copper rallies further on Friday and extends previous day's 1.6% rally which generated strong bullish signal on break and close above daily cloud (cloud top lies at $3.1033, reinforced by daily Kijun-sen).
Today's fresh extension higher…
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SPOT GOLD extends recovery above key Fibo barrier
Gold price regained traction and bounced from session low at $1318 hit in late Asian trading, as dollar remains at the back foot after weak US CPI data.Fresh extension of Thursday's strong rally when the yellow metal was up nearly 1%,…
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