GBPUSD is holding within narrow consolidation; bearish outlook while 1.40 caps
Cable holds within narrow congestion between the top of thin daily cloud (1.3931) and psychological 1.40 barrier (also55SMA) on Wednesday.
Steep six-day fall from 1.4376 peak found footstep at cloud top and entered consolidation, also…
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EURUSD remains at the back foot as daily cloud caps recovery attempts and awaiting fresh signals…
The Euro holds firmly in red in early European trading on Wednesday after recovery attempts in Asia were repeatedly capped by daily cloud base.
Hopes of forming a base above key Fibo support at 1.2172 after Tuesday's action was rejected at…
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USDJPY – bulls could extend to 110./26 on firm break above daily cloud top
The pair probes again above 100SMA (108.95) in early Wednesday's trading after previous day's attempts through 109 handle stalled at 109.20 and session closed below 100SMA pivot.
The dollar remains well supported as US bond yields continue…
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USDCAD – bulls show strong hesitation under daily cloud top, risk of deeper pullback
The pair holds within 50-pips consolidation on Tuesday after strong four-day rally was capped by daily cloud top (1.2862) on Monday and today's action failed to extend further as cloud is widening and top lies at 1.2875.
Recovery rally…
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USDJPY – bulls cracked 109 barrier and eye cloud top, but may correct lower before resuming
The pair cracked 109 barrier on fresh extension higher at the beginning of US session on Tuesday, but so far without clear break through round-figure barrier, reinforced by descending 100SMA.
Strong bullish sentiment remains in play for…
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EURUSD – Weak German data added to negative outlook as traders expect dovish tone from the ECB…
The Euro hit new session low at 1.2181 after weak German data added to negative outlook. IFO index fell below expectations in Apr )102.1 vs 102.8 f/c), continuing to deteriorate from January's peak at 117.6 and signaling that German…
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SPOT GOLD – bears take a breather but recovery attempts stay capped by daily cloud
Gold price is higher on Tuesday on profit taking from three-day steep fall, which hit new 2 ½ week low at $1322.
The upside action was so far limited as strong dollar and reduced safe-haven demand continue to weigh.
Recovery attempts were…
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WTI OIL – near-term focus turns higher on fresh geopolitical concerns
WTI oil regained strength and bounced above $69 on Tuesday, after attempts to extend corrective pullback from new high at $69.54 (posted on 19 Apr) was strongly rejected on Monday.
Rising 10SMA contained dip and continues to underpin fresh…
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AUDUSD – break through key supports opens way for further weakness
The Aussie dollar extends steep fall of past three days on Tuesday and cracks key supports at 0.7635/17 (Fibo 38.2% of larger 0.6826/0.8135 ascend / main bull-trendline off 2016 low at 0.6826).
Firm break here would generate strong bearish…
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USDJPY – bulls eye key barriers at 109.00/31; corrective easing may precede fresh rally
The pair maintains firm bullish tone in early Tuesday's trading and extended strong rally on Monday (up 0.85%, the biggest one-day gain since 28 Mar) to new 2 ½ month high at 108.87.
Close above double-Fibonacci barriers at 108.25/49 on…
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