USDCAD – bulls extend above daily cloud, eye falling 200SMA
The pair extends strong rally from 1.2450 (16 Feb higher low) into fourth straight day and heads towards target at 1.2687 (09 Feb spike high) after breaking through pivotal barrier at 1.2663 (Fibo 61.8% of 1.2920/1.2248 descend.
Close…
Read More...
Read More...
EURGBP bounces after rise in UK unemployment deflated pound
The cross bounced on Wednesday after bears were repeatedly rejected just above psychological 0.88 support, also 50% retracement of 0.8686/0.8919 upleg and unexpected rise in UK unemployment deflated pound.
Reversal of daily slow stochastic…
Read More...
Read More...
SPOT GOLD holds in narrow consolidation after heavy losses, awaits FOMC minutes
Spot Gold is trading within narrow consolidation above one week low at $1325 as traders await release of FOMC minutes later today.
The yellow metal fell sharply on Tuesday, driven by stronger dollar, making the strongest one-day fall since…
Read More...
Read More...
WTI OIL – strong negative signals on bearish Harami and penetration of rising daily cloud
WTI oil extends lower on Wednesday and penetrated rising daily cloud which underpinned the action in past couple of sessions.
Tuesday's close in red was initial signal that strong four-day recovery rally from higher base at $58.10 zone is…
Read More...
Read More...
USDJPY extends recovery but overall picture remains bearish
Recovery rally extends into fourth straight day and probed above pivotal barriers at 107.43/48 (Fibo 38.2% of 110.48/105.54 bear-leg / falling 10SMA) to hit one-week high at 107.90 (14 Feb high).
Bulls faced strong headwinds here and show…
Read More...
Read More...
GBPUSD remains at the back foot ahead of data
Cable extends weakness on Wednesday's after mixed previous day's action ended in long-tailed Doji and signaled indecision.
Pound was lifted by media comments on Brexit, upside attempts above 1.40 handle were short-lived.
Fresh weakness…
Read More...
Read More...
EURUSD extends lower; EU PMI and FOMC minutes could further pressure the pair
The Euro continues to trend lower from 1.2555 spike high / strong upside rejection and pressures psychological support at 1.2300, in extension on previous day's strong fall which generated bearish signal on close below 1.2339 (Fibo 61.8% of…
Read More...
Read More...
AUDUSD accelerated lower on downbeat data and pressure daily cloud top; FOMC minutes eyed for fresh…
The Australian dollar remains firmly in red and extended weakness in Asia on Wednesday, hitting one-week low at 0.7840.
Stronger US dollar continues to drive the Aussie lower, with additional pressure coming from downbeat Australian…
Read More...
Read More...
COPPER – bears penetrate daily cloud again, face a cluster of supports
Copper remains firmly in red on Tuesday, extending pullback from last Friday’s spike high at $3.2710 and probing again into thick daily cloud (spanned between $3.1935 and $3.1312) after false break through cloud top on Friday.
The metal is…
Read More...
Read More...
EURGBP dips to pivotal 0.88 support after fresh weakness broke a cluster of supports
The cross came under renewed pressure at the beginning of American trading and probes through European session low at 0.8810, posted after strong bearish acceleration on media comments which improved Brexit outlook and boosted pound.
Fresh…
Read More...
Read More...