GBPUSD holds firmly in red and could fall further on GDP miss
Cable extends weakness below thin daily cloud, signaling continuation of steep downtrend from 1.4376 (post-Brexit recovery high) after Thursday's action showed indecision and held within cloud.
Bears pressure immediate support at 1.3868…
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EURUSD – bears eye psychological 1.20 support / 200SMA
The Euro remains in red in early Friday's trading and hit new lows in over four months, in extension of strong bearish acceleration in past two days.
Two long red candles of past two days and Thursday's one with long upper shadow, weigh…
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SPOT GOLD – bearish bias under daily cloud
Gold remains at the back foot on Thursday as recovery attempts following previous day's fall were limited and capped by daily cloud base ($1325) and subsequent weakness shifts near-term focus lower.Bearish bias remains intact and showing…
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AUDUSD – bears take a breather before final push towards 0.7500 target
The Aussie holds in narrow consolidation on Thursday, following fresh extension of steep downtrend on Wednesday, which hit new multi-month low at 0.7651.
Bearish setup of daily MA's and negative momentum studies keep the pair under…
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WTI OIL recovers on renewed concerns about US sanctions against Iran
WTI oil ticked higher on Thursday, boosted by renewed fears of US re-imposing sanctions against Iran, which would further tighten global oil supplies.
In addition, drop of oil production in Venezuela on economic and political uncertainty,…
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USDJPY – bulls focus targets at 110.00/25 but consolidative / corrective action may precede
The pair trades within narrow consolidation on Thursday, holding under new high at 109.46, posted after another strong rally on Wednesday and retested today.
Eventual close above daily cloud top was bullish signal, but overbought daily RSI…
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GBPUSD- bears probe through 1.3920 base, eye 100SMA support
Cable stands at the back foot on Thursday and pressures temporary base at 1.3920, where recent strong fall from 1.4376 peak found footstep.
Narrow consolidation in past few sessions remained capped under pivotal 1.40 barrier (psychological…
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EURUSD bounces from new four-month low ahead of ECB
The Euro moved higher in early Thursday's trading after retesting low at 1.2159, posted on strong fall of Wednesday.
Larger bears found footstep here and bounce could be positioning for fresh weakness, as overall picture is negative.…
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WTI OIL falls after crude surprise stocks build, but hopes of renewed attack at $70 target would be…
WTI oil hit session low at $67.10 and cracked Tuesday’s spike low support at $67.12, after EIA report showed unexpected build in crude stocks last week.
Inventories rose by 2.17 million barrels, strongly undershooting forecast for 1.6…
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COPPER – repeated upside rejections are initial negative signs; close below Fibo support at…
Copper price shows strong indecision on Wednesday, as repeated failures to break through falling thin daily cloud (3.1294/3.1575), shaped today's action in long-legged Doji, signaling strong indecision, in addition to daily candles with…
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