COPPER is consolidating above new one-year low before bears resume
Copper hit new one-year low at $2.7150 on Wednesday and generated bearish signal on completion of near-term correction from $2.7160 (11 July former low) which stalled at $2.7980, capped by falling 10SMA.
The metal price accelerated lower…
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USDJPY eases below 113 handle on o/b conditions / weak US housing data
The pair stands at the back foot in early US trading and dipped to session low at 112.70 after bulls stalled on initial attempt above 113 handle.
Overbought daily studies signaled easing which was helped by poor housing data released…
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WTI OIL – bears are taking a breather; crude inventories report eyed for fresh signal
WTI oil price trades within narrow consolidation on Wednesday after strong bearish acceleration in past two days hit new 3 ½ week low at $67.02.
Thin daily cloud which twists today, reinforced by rising 100SMA, offered temporary support,…
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AUDUSD – bears eye key support at 0.7310
The Aussie dollar extended weakness through key near-term support at 0.7360 (12 July lo) on Wednesday, after previous day’s weakness completed Doji bearish reversal pattern on daily chart, while today’s break below 1.1760 pivot signals…
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USDJPY heads towards 2018 high but bulls might be interrupted by overbought daily techs
The pair extends strong rally to new multi-month high at 113.13 on Wednesday, as the dollar was boosted by hawkish comments from Fed’s chief Powell.
Tuesday’s 0.5% advance completed two-day 112.80/112.19 correction, which left inverted…
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GBPUSD – bears pressure key support at 1.3049 but could be interrupted if UK inflation data…
Cable holds in red and accelerated lower in in early European trading on Wednesday, extending previous day's strong fall of nearly 1%.
Pound was initially hit by soft UK jobs data and additionally pressured by hawkish comments from Fed's…
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EURUSD remains in red after hawkish Powell; pressures pivotal support at 1.1601
The Euro pressures last Friday's low at 1.1601 in early European trading on Wednesday, in extension of strong fall on Tuesday after more hawkish than expected congressional testimony of Fed Chairman Powell.
Powell favored central bank's…
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Pound falls on Brexit concerns and rising dollar ahead of Powell’s testimony
Cable lost traction and fell back below 1.3200 handle after post-UK jobs data rally hit session high at 1.3268, but gains were short-lived and stalled again under strong offers at 1.3300 zone.
UK average earnings came in line with…
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WTI price consolidates after 3.5% on Mon; outlook remains negative; crude stocks data in focus
WTI oil price holds within narrow consolidation on Tuesday, following over 3.5% fall on Monday.
Pullback from new high at $75.34 (the highest since Nov 2014) extended further after last Wednesday's strong bearish acceleration, which marked…
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USDJPY – bulls show signs of fatigue but Fed Powell’s testimony is expected to be the…
The pair is consolidating under new high at 112.80, posted on 13 July, after last week's strong rally stalled on approach to 2018 high at 113.38 (08 Jan).
The price so far holds within tight range, but broader bulls show signs of fatigue…
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