Congestion extends into fourth day; BoJ policy meeting on Tuesday is in focus
Early Monday's action was so far in green as last week's multiple downside rejections above key supports at 110.64 (50% of 108.11/113.17) and 110.57 (rising 55SMA), generated initial recovery signal.
However, the downside is still…
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Recovery is seen as positioning as bears dominate; central banks eyed for stronger signals
Cable moved higher in early European trading on Monday, following tight range in Asia.
Friday's action ended in Doji candle after failing to break Fibo 50% support at 1.3085, with subsequent bounce seen as positioning, as primary trend is…
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Daily cloud / MA’s weigh heavily for renewed probe through triangle support; series of key…
The Euro holds in sideways mode and trading within tight range at the beginning of the week and sees little support from last Friday's Hammer, formed after unsuccessful attack at triangle's lower boundary.
Near-term price action remains…
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EURUSD ticks higher after US data but risk remains skewed lower
The Euro was higher in post-data 1.1620/50 advance, after US GDP came in line with expectations (4.1%) with previous release being upward-revised from 2.0% to 2.2%.
Fresh dollar's weakness could be explained as disappointment of traders…
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Bullish outlook above broken 55SMA
WTI oil eases from one-week high at $69.90 on Friday but remains constructive above broken 55SMA ($69.22).
Thursday's eventual break above 55SMA which marked the top of week-long congestion, was bullish signal. Bulls require extension…
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Thursday’s long red candle weighs heavily; US GDP eyed for fresh signal
The Australian dollar consolidates within narrow range on Friday, following 1% fall previous day, with prevailing negative near-term outlook.
Repeated upside rejection left a double-top (0.7464), generating negative signal, reinforced by…
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Thursday’s bearish outside day signals further weakness
Cable remains in red on Friday after suffering heavy losses on fall from 1.3213 to 1.3105 on Thursday.
Fresh bearish extension of pullback from 1.3213 (after recovery failed to clearly break above pivotal Fibo 61.8% of 1.3362/1.2957 fall…
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Bearish pressure after dovish ECB could increase on upbeat US GDP data
The Euro is consolidating after strong fall on Thursday when it fell 103 pips after dovish ECB disappointed traders.
Strong fall and close below the base of thick daily cloud, following unsuccessful cloud penetration, was bearish signal.…
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Break out of congestion between Kijun-sen and 55SMA to provide direction signal
The pair holds around 111 handle in early European trading on Friday, down from Asian high at 111.24, which also marks the high of Thursday's rally.
Daily Kijun-sen capped upside attempts for the third straight day, marking strong…
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Downside pressure increases after dovish ECB; thick daily cloud continues to weigh
The Euro entered US session in red and extends losses after dovish comments from ECB's chief Draghi.
Despite markets expected some hawkish steer, Draghi's comments on post-rate decision meeting press conference showed no changes from the…
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