SPOT GOLD falls back to 200SMA as dollar rallies
Gold price was sharply lower on Wednesday, as dollar rose on US decision to exit international nuclear deal with Iran.
The yellow metal spiked to one week low at $1304 and cracked key support provided by rising 200SMA which contained…
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WTI OIL surges to new 3 ½ highs after US decision to pull out of Iran nuclear deal
WTI oil cracked $71 barrier on Wednesday, hitting new 3 ½ year highs, on strong bullish acceleration following decision of the US to pull out from international nuclear deal with Iran.
Market reaction on such scenario was expected as new…
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AUDUSD – firm bearish setup favors further weakness
The Aussie dollar extends bear leg from 0.7560 lower top to new 11-month low at 0.7412 on Wednesday.
Stronger dollar on uncertainty over Iran and higher oil prices keep Aussie firmly in red, along with bearish daily techs.
Bears approach…
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USDJPY – fresh bullish acceleration opens way for attack at psychological 110 barrier and…
The USDJPY pair rallied on Wednesday, signaling an end of corrective phase from 110.03 high (02 May), which showed strong indecision at 108.83 Fibo support, shaped in triple long-legged Doji.
The dollar was boosted by decision of US…
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GBPUSD – 200SMA still holds but strong bearish sentiment maintains risk of eventual break…
Cable moved lower in early Wednesday's trading and probes again below 200SMA but remains for now within consolidation range (1.3484/1.3592) which extends into fourth straight day.
Steep fall from 1.4376 (2018 high) found footstep at 200SMA…
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EURUSD – bears approach initial target at 1.1790 and could extend to next key support at…
The Euro remains under strong pressure on Wednesday and extends weakness to new multi-month lows.
President Trump's decision to pull out from a nuclear deal with Iran pushed dollar higher, while concerns about Italian political turmoil…
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EURUSD – bears accelerate in the US session, eye Fibo support at 1.1790
The Euro extends weakness in early US trading and hit session low at 1.1838 (the lowest since 22 Dec).
Strong bearish sentiment is reinforced by growing bearish momentum and formation of 10/200SMA death-cross.
Bears eye initial target at…
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USDTRY hit new record high just under psychological 4.30 barrier; extended wave C could travel…
The USDTRY continues to trend higher and posted new all-time high at 4.2997, just ticks below psychological 4.30 barrier, which is currently under strong pressure.
Having in mind that previous round-figure barriers were taken out quickly…
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COPPER accelerates lower and breaks below thick daily cloud
Copper price accelerated lower on Tuesday, holding in red for the third straight day and emerged below daily cloud, in which the price was stuck in few previous sessions.
Fresh weakness extended to one-week low at $3.0330 and cracked…
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SPOT GOLD eases after recovery stall, risks retest of 200SMA
Gold holds in red on Tuesday as dollar strengthened and eases back to $1308, retracing Fibo 61.8% of $1301/$1918 recovery leg.
Negative near-term bias is establishing after Monday's long-legged Doji signaled strong indecision and recovery…
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