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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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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