GBPUSD – bullish bias but daily cloud top continues to limit upside attempts
Cable stands at the front foot on Thursday and pressures daily cloud top, after attempts in past two days failed here and Wednesday's action ended in Doji candle, signaling indecision
Bulls may show signs of stall on repeated failure to…
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EURUSD – in sideways mode but bullish bias above 10SMA
The Euro remains in sideways mode and within tight range at the beginning of European session, following quiet trading in Asia.
Wednesday's close in red after repeated failure to clear 1.24 barrier weighs, but dips so far hold above…
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USDTRY – strong rally broke above daily cloud; all-time high coming in focus
The Turkish lira stays under strong pressure against dollar, falling for the third consecutive day. Increasing worries about Turkish economy as current account deficit widened strongly in recent months, double-digit inflation and conflict…
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USDJPY – weaker than expected US retail sales weigh but fresh losses were so far limited
The pair hit new daily low at 106.31 after US retail sales fell below expectations in February (-0.1% vs 0.3% f/c) falling for a third straight month.
The negative picture was slightly improved by upward revision of Jan figure (-0.1% from…
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Copper rallies strongly after strong Chinese data; bulls may face strong headwind from daily cloud…
Copper was strongly higher on Wednesday, driven by strong Chinese industrial production data which boosted the sentiment.
Fresh bullish acceleration above previous high at $3.1765 (06 Mar) hit new two-week high at $3.1815 and pressuring…
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SPOT GOLD – cautious trading on political uncertainty in the US show no clear n/t direction
Spot Gold ticked higher on Wednesday as dollar came under pressure after sudden dismissal of US Secretary of State, but limited upside action was seen so far as traders remain cautious in light of new political situation as well as rising…
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WTI OIL – recovery attempts remain capped by thick daily cloud ahead of crude stocks data
WTI oil trades higher on Wednesday and regains $61 handle, but recovery attempts so far hold below the base of thick daily cloud which marks solid resistance at $61.23.
Oil price bounced from new low at $60.26, posted after strong two-day…
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AUDUSD attempts again through key 55SMA, boosted by upbeat Chinese IP data
The Australian dollar holds firm tone on Wednesday, supported by upbeat Chinese IP data (Feb IP 7.2% vs 6.3% f/c and Jan 6.2%).
Fresh strength probes again above cracked Fibo 61.8% of 0.7988/0.7712 descend (0.7882) and pressures 55SMA…
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USDJPY – bearish n/t bias after strong upside rejection under 30SMA on Tue; 10SMA marks key…
The pair holds in narrow consolidation above key n/t support at 106.27 (10SMA) which contained attacks in past few sessions, but n/t bias remains at the downside following strong upside rejection on Tuesday.
Repeated attempts higher…
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GBPUSD – daily cloud top marks significant barrier
Cable maintains positive tone after Tuesday's rally and close above 1.3930 pivot (bear-trendline / Fibo 61.8% of 1.4067/1.3711) but bulls were so far capped just under psychological 1.40 barrier, where daily cloud top marks strong barrier.…
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