EURUSD probes below 1.18 handle as weak EU inflation provided additional pressure
The Euro broke below psychological support at 1.1800 and hit new nearly five-month low as stronger dollar on rising US bond yields continues to drive the single currency lower and additional pressure came from slowdown in EU inflation.
CPI…
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Gold consolidates after sharp fall; bears need break below $1285 Fibo support for fresh negative…
Gold price moved higher on Wednesday after falling sharply the previous day (gold fell nearly 1.7% on Tuesday), but recovery was so far limited and stayed below psychological $1300 barrier.
The yellow metal price was heavily sold as…
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WTI OIL stands at the back foot, awaiting crude stocks data for fresh signal
WTI oil price stands at the back foot but holding in tight range on Wednesday, after being hit by unexpected build of US crude stocks (API report released late Tuesday showed build of 4.85 million barrels, compared to 1.85 million barrels…
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AUDUSD may extend recovery on break above 10SMA
The Aussie dollar moved higher after retest of Tuesday's 0.7447 low failed to break lower.
Slightly softer than expected but unchanged Australian wage price index and consumer sentiment offered support.
Recovery attempts eye…
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GBPUSD stands at the back foot but clear break through key 1.3460 support needed for stronger…
Cable holds within narrow range in early Wednesday's trading with near-term structure being negatively aligned following Tuesday's close in red and brief probe through key support at 1.3460.
Overall weak UK jobs data released on Tuesday,…
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USDJPY eases after strong rally and break of 200SMA; bull-trendline to ideally contain dips
The eases below broken 200SMA in early European trading following narrow consolidation under new high at 110.45 in Asia.
Tuesday's strong rally which resulted in eventual break and close above 200SMA was strong bullish signal.
Rally may…
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EURUSD hits new 5-month high; bears risk extension towards strong supports at 1.1709/1.1675
The Euro hit new five-month low in Asian session on Wednesday, in attempts to extend strong fall of Tuesday when the pair was down almost 1% and fully retraced 1.1822/1.1996 corrective upleg.
Stronger dollar, driven by rising US 10-y…
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USDTRY hits new record high; eyes significant barrier at 4.50
The USDTRY hit new record high at 4.4623 on Tuesday in extension of steep three-day ascend from 4.22 (10 May trough).
Turkish lira remains in a free fall against strengthening US dollar, driven by US yields which hit the highest in over…
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USDJPY – eventual break above 200SMA signals bullish continuation
The USDJPY pair eventually broke above strong barriers at 110.00 (psychological / double upside rejection) and 110.15 (200SMA) and cracked Fibo barrier at 110.26 (61.8% of 113.74/104.63 descend) on fresh acceleration of US dollar on rising…
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EURUSD – bearish bias strengthens on acceleration below thick 4-hr cloud
Strong acceleration lower in the mid-European session confirms Euro’s bearish stance, as dollar rallies on higher US yields.
Fresh weakness broke below 4-hr cloud base 1.1906 and cracked next pivot at 1.1888 (Fibo 61.8% of 1.1822/1.1996…
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