EURUSD – strong rally in Asia sidelines near-term bears
The Euro accelerated higher in Asia on Friday after the EU leaders reached an agreement on migration.
The rally broke through pivotal 10SMA barrier (1.1614), sidelining threats for retest of key support at 1.1508 (21 Jun low) as past…
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Bounce on hawkish BoE MPC member seen as temporary relief
Cable bounced from new multi-month low at 1.3049 on Thursday and retested former key support at 1.3101, boosted by hawkish comments from BoE's chief economist Haldane.
Bears showed hesitation on approach to strong supports at 1.3038 (03…
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Profit-taking may delay bears for final push towards $1236 target
Spot Gold is holding within tight consolidation above new over six-month low at $1248 posted today, with oversold daily studies suggesting gold price may enter consolidative / corrective phase in coming sessions.Steep fall from lower top at…
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Violation of base at $2.94 zone could trigger further extension of downtrend from 2018 high
Copper hit new over three-month low at $2.9535 on Thursday, in extension of steep fall from 2018 high at $3.3140 (posted on 07 Jun) which lasts almost three weeks.
Bears so far show no signs of fatigue despite oversold conditions and…
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Oil price could extend rally towards $76.35 Fibo barrier on sustained break above $72.89 pivot
WTI oil is consolidating under new high at $73.04 (the highest since Nov 2014) on Thursday, taking a breather after steep five-day rally fully retraced $72.89/$63.58 correction leg and signaled continuation of larger uptrend from $26.04…
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Close below key Fibo support at 0.7325 to signal further weakness
The Aussie dollar is consolidating above new low at 0.7322 (the lowest since Jan 2017) posted on Wednesday.
Three-day descend is taking a breather but negative sentiment and bearish techs keep the downside in focus as Wednesday's fall also…
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Bulls show hesitation above 200SMA; fundamentals seen as key driver
The pair holds firm tone and trades above 200SMA in early Thursday's trading, but the upside was so far limited as dollar's bulls started to lose traction after comments from President Trump about tariffs on China were less harsh than…
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Break of 1.3101 pivot pressures Nov low at 1.3038 and eyes psychological 1.30 support
Cable broke below key support at 1.3101 on Thursday, extending bear-leg from 1.33 zone into third straight day.
Strong bearish sentiment was boosted by comments from BoE's Deputy Governor who offered no hints about vote for rate hike in…
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Break through 1.1509/08 base could spark stronger bearish acceleration
The Euro remains in red on Thursday and extends descend from week's high at 1.1720, pressuring key supports at 1.1509/08 (29 May / 21 Jun lows).Steady dollar keeps the single currency under pressure which could intensify on political…
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Weak techs and sentiment keep pound under pressure for retest of key 1.3101 support
Cable stays in red for the second straight day and dipped to one-week low at 1.3150, retracing 76.4% of 1.3101/1.3315 recovery leg.
Tuesday's bearish engulfing and daily techs in bearish setup weigh on near-term action, with negative…
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