Renewed downside risk after strong recovery rejection
WTI oil price stands at the back foot at the beginning of the week, following fall after strong upside rejection on Friday, weighed by weak industrial data from China and concerns over emerging market economies, with focus on Turkey.…
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Extended recovery on eased tensions / strong demand, but overall picture remains bearish
Copper price hit new recovery high at $2.6810 on Monday, in extension of two-day rally from last week's low at $2.5510 (the lowest since June 2017.
Easing trade tensions between the US and China, as well as signs of stronger demand,…
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USDJPY – consolidation above daily cloud base
The pair holds in green on Monday and consolidating above daily cloud base which contained Friday's fall.
Cloud base lays at 110.45 and marks pivotal support, break of which would expose psychological 110 support, reinforced by Fibo 61.8%…
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GBPUSD – larger bears could be further delayed on break above falling 10SMA
Cable is consolidating within narrow range on Monday, following two-day recovery rally from last week's low at 1.2661 (the lowest since late June 2017).
Larger downtrend from 1.4376 (17 Apr peak) is taking a breather (signaled by last…
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EURUSD – recovery rally shows signs of stall; overall structure remains bearish
The Euro holds in red in early Monday's trading and pulled back from three-day recovery high at 1.1445.
Falling 10SMA caps recovery for now, keeping intact pivotal barrier at 1.1470 (Fibo 38.2% of 1.1745/1.1300) as bounce from last…
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Overall solid US jobs data / negative techs keep bears in play but consolidation may precede bearish…
The Euro showed mild reaction on weaker than expected US NFP data (July 157K vs 193K f/c and upward-revised June figure from 213K to 248K).
The pair ranged between 1.1560 (new five-week low) and 1.1610 as markets were digesting results of…
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Mixed techs lack clearer direction signal despite Thursday’s strong rally
WTI oil price holds within narrow consolidation on Friday, after strong rally previous day. Reports on unexpected fall in US crude supplies boosted oil price, temporarily offsetting negative impact from rising crude stocks and higher output…
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Bearish bias persists and eyes targets at 0.7317/10
The Australian dollar moved higher from session low at 0.7348, consolidating fall from the session high at 0.7372, posted in Asia.
Upbeat Australian retail sales data provided little support to the pair, maintaining bearish bias, built in…
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Extended directionless mode eyes US data for fresh signals
The pair holds in directionless mode in early Friday's trading, following Wednesday's Doji and Thursday's Hammer candle, awaiting stronger direction signals from US jobs data.
Strong rejections on both sides in past two sessions support…
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Bears could extend towards supports at 1.2967/1.2865; UK / US data eyed for fresh signals
Cable remains in red on Friday and probes below psychological 1.30 support, in extension of strong fall on Thursday.
Pound was sharply lower on Thursday after the BoE increased interest rate by 0.25% but signaled that won't be in hurry for…
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