EURGBP rallies on weaker pound; daily cloud twist also attracts
The cross accelerated from 2 ½ week low at 0.8771, posted earlier today and broke above 0.88 handle after highly-anticipated speech of opposition leader Jeremy Corbyn today.
Corbyn explicitly supported customs union with EU after Brexit,…
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COPPER jumps on bullish fundamentals but mixed techs limit the advance for now
Copper edged higher on Monday, driven by weaker dollar and reports that imports of base metals to China jumped in January, but the rally showed signs of stall, short of last Fri/Thu highs at $3.2335 and $3.2425, keeping the upside limited…
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XAUUSD – fresh rally maintains bullish near-term bias
Spot Gold rallied on Monday, extending recovery from $1320 (22 Feb low), driven by fresh weakness of US dollar at the beginning of week.
Bullish acceleration improved near-term structure as metal's price gains fresh bullish momentum and…
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WTI OIL – bulls eye next targets at $64.27/62
WTI oil price is consolidating under new 2 ½ week high at $63.88, posted today, in extension of strong rally on Thu/Fri.
Oil price was boosted on Friday by closure of oil field in Libya, with strong bullish sentiment supported by comments…
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AUDUSD – fresh bulls above daily close need to clear 0.79 barrier for stronger bullish signal
The Australian dollar moved higher in early Monday's trading, backed by weaker US dollar, on repeated probe above rising daily cloud (cloud top lies at 0.7859) and hit levels near 0.79 barrier (round-figure resistance, reinforced by falling…
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USDJPY – bears continue to focus 105.54 target
The pair holds in red at the beginning of European session and cracked pivotal support at 106.44 (Fibo 61.8% of 105.54/107.90 upleg), after short-lived probe above 107 barrier in early Asian trading.
Fresh weakness probes below the base of…
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GBPUSD – extended recovery hit one-week high as fundamentals continue to support
Cable maintains bullish tone at the beginning of the week and rallied to new one-week high at 1.4046 after taking out psychological 1.40 barrier.
Strong bullish acceleration in early Monday's trading improved technical picture as the pair…
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EURUSD remains within extended range with negative n/t outlook and awaits speeches from Draghi and…
The Euro ticked higher in early Monday's trading, testing levels above 1.23 handle, but without clear near-term direction, as the pair holds within 1.2260/1.2360 congestion and extends range-trading into fourth consecutive day.
Some…
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WTI OIL extends advance, pressures $63.36 Fibo barrier
WTI oil price rose further on Friday, maintaining strong bullish sentiment after upbeat supply data and hit new 2 ½ week high at $63.31.Fresh bullish acceleration was boosted by news that oilfield in Libya was shut due to unrest, which…
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USDCAD falls after better than expected Canadian inflation numbers; reversal pattern is forming on…
Loonie jumped around 100 pips against its US counterpart after Canadian inflation surprised in January, coming well above forecast.
Underlying inflation firmed in January while annualized CPI rose by 1.7%, pulling back from previous…
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