Completion of reversal pattern signals further weakness
The pair stands at the back foot in early Friday's trading, following sharp fall of over 100 pips late Thursday, which left new multi-month high at 113.17 and sidelined immediate bulls.
The greenback was hit by comments from US President…
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Aussie slumps on weak yuan; key support at 0.7310 under increased pressure
The Australian dollar dipped to 2 ½ week low at 0.7322 after strong bearish acceleration on Thursday took out support at 0.7360 (11/12 July double-bottom.
Today’s big drop was triggered by fresh weakness of Chinese yuan which hit one-year…
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Loonie comes under increased pressure after solid US data
The pair accelerated higher on Thursday and cracked important barrier at 1.3261 (Fibo 61.8% of 1.3386/1.3064 pullback) where upside attempts on Wednesday were rejected, leaving bearish daily candle with long upper shadow.
Strong US dollar…
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COPPER hits new one-year high on strong dollar / demand concerns on US- China trade conflict
Copper hit new one-year low at $2.6720 on Thursday, as fresh acceleration lower ended five-day consolidation and signaled continuation of larger downtrend from $3.3140 (07 June high).
Strong dollar and rising concerns about demand,…
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Cable slides below 1.30 handle after downbeat data; Fibo support at 1.2865 is coming in focus
Cable trades below 1.30 handle ahead of start of the US session on Thursday, following fresh bearish acceleration on downbeat UK retail sales data, released earlier today.
Retail sales fell well below expectations in June (m/m -0.5% vs…
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WTI OIL comes under renewed pressure on oil stocks build / increase of US output
WTI oil price fell on Thursday after recovery attempts from $67.02 double-bottom (also 100SMA) stalled on negative news that increased pressure on oil prices.
Unexpected strong rise in oil inventories (EIA report showed build of 5.8…
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Bullish outlook remains intact after Wednesday’s Doji
The pair is regaining traction and probes again above 113 barrier on Thursday, pressuring previous day's new multi-month high at 113.13 and sidelining downside risk signaled by Wednesday's Doji with long upper shadow.
Near-term bias…
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Fresh weakness from recovery tops turns n/t focus lower
The Euro holds in red for the third straight day and pressures again Wednesday's spike low at 1.1601, after recovery attempts from here ran out of steam at 1.1660 and left hourly double-top before falling back.
Fresh weakness nearly fully…
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Aussie reverses gains on upbeat Australian jobs data, driven by stronger greenback and weaker yuan
The Australian dollar accelerated lower in early European trading and erased all overnight gains on upbeat Australian jobs data (employment change 50.9K in Jun vs 16.7K f/c and 13.5K in May).
Post-data rally stalled at 0.7441 (former…
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Weak UK retail sales would add to negative outlook and spark fresh weakness below 1.30
Cable came under pressure in late Asian / early European trading, after brief recovery from Wednesday's new ten-month low at 1.3009, which stalled at 1.3083.
Pound was hit by weaker than expected UK inflation data on Wednesday and probed…
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