EURUSD – bullish outlook above 30SMA, but 1.24 marks significant obstacle
The Euro is consolidating under 1.24 handle in early Wednesday's trading, maintaining positive tone as dollar stands at the back foot on unexpected dismissal of US Secretary of State Tillerson.
Strong bounce from daily cloud top on Tuesday…
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GBPUSD rallies above trendline resistance on weak US CPI; brighter outlook for the UK economy
Cable surged through trendline resistance (1.3930) after data showed US inflation slowed in February.
CPI rose 0.2% previous month, matching the forecast but falling well below previous month's 0.5% rise, signaling that expected pickup in…
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COPPER – thick daily cloud and bearish techs weigh, but firmer direction signals are needed
Copper holds in direction mode on Tuesday, with price action shaped in long-legged Doji and capped by thick daily cloud after Monday's fall broke and closed below cloud base.
Daily cloud continues to weigh, along with negative daily…
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WTI OIL – bearish alignment but daily cloud base holds for now; supply data in focus
WTI oil maintains negative tone on Tuesday, pressured by news of another increase in US oil production.
Today's action was so far contained by the base of thick daily cloud at $61.20 and is shaped in tight Doji candle.
Cloud base acts as…
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SPOT GOLD looks for direction signal on break out of $1313/26 range
Spot Gold holds in red in European session on Tuesday after extension of previous day's recovery stalled at $1325 in early Asian trading.Fresh weakness pressures cracked support at $1317 (Fibo 61.8% of $1302/$1340 rally), firm break of…
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AUDUSD – consolidation under 55SMA is expected before bulls resume
The Australian dollar holds in narrow consolidation under new two-week recovery high at 0.7884, posted after rally of past two days.
The action was capped by 55SMA / Fibo 61.8% of 0.7988/0.7712 descend, with signals that bulls may take a…
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USDJPY – firm break above 107 to generate bullish signal
The pair is up on Tuesday, lifted by higher Nikkei and pressuring again 107 resistance zone, which capped upside attempts in past two days.
Sustained break above 107 (top of congestion that extends into third day) would generate fresh…
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GBPUSD – 20 SMA continues to cap and keep n/t risk skewed lower
Cable ticked lower in early European trading after holding with narrow range in Asia and remains capped by 20SMA (1.3910) for the fifth straight day.
Bear-trendline off 1.4345 high lies just above (1.3934) and produces additional pressure.…
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EURUSD holds in tight range and looks for fresh direction signal
The Euro traded within tight range in Asia on Tuesday with the downside being held by rising 10SMA / top of thick daily cloud (1.2320) and the upside remaining capped for the third straight day by 20SMA (1.2340).
Near-term action shows no…
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COPPER – recovery rally shows signs of losing traction on probes into thick daily cloud
Copper bounced from day's low at $3.1085 in early American session after being hit by fresh strength of dollar which pulled the price lower in early Monday's trading.Strong rally on Friday generated positive signal on formation of bullish…
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