SPOT GOLD – limited recovery keeps the downside at risk
Spot Gold eased on Friday after failing to regain previous day rally's high at $1332.
The downside remains vulnerable after bounce from $1320 (new 1 ½ week low) stalled, but immediate downside risk is limited as the price remains above the…
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WTI OIL is consolidating after strong rally; rising daily cloud continues to underpin
WTI oil price is consolidating under fresh over two-week high at $63.07, posted on Thursday when oil prices surged on positive US crude inventories data.EIA weekly report showed unexpected fall in US crude inventories against forecasted…
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AUDUSD returns to daily cloud after recovery rejection; near-term bias remains bearish
The pair turned to red on Friday and is back into daily cloud after failing to capitalize from Thursday's rally and marginal close above cloud top.
Near-term focus shifts lower again, supported by bearish setup of daily MA's (10;20;30) and…
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USDJPY – near-term bias turns negative after Thursday’s fall
The pair is consolidating on Friday after suffering heavy losses previous day. Near-term action is holding below 107 handle (broken Fibo 38.2% of 105.54/107.90 upleg, reinforced by falling 10SMA) for now and maintains downside pressure,…
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GBPUSD – fresh rally sidelines downside risk but needs close above 1.40 to confirm
Cable holds positive tone and rallies towards initial barrier at 1.3988 (30SMA / Thu high) after generating bullish signal on strong downside rejection at 1.3856 on Thursday.
Bullish acceleration in early European trading is forming…
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EURUSD remains biased lower; EU inflation data in focus
The Euro stands at the back foot in early Friday's trading and probes below 1.23 handle, focusing initial support at 1.2259 (22 Feb low).
Recovery attempts on Thursday were limited by 30SMA that kept bearish near-term bias in play, despite…
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EURUSD may extend correction towards 1.20 on hawkish Fed and benign ECB
The Euro extended recovery on Thursday to 1.2352 but remains under initial barrier at 1.2361 (10SMA).Profit-taking after four-day fall may boost the Euro further but no stronger recovery is seen.Hawkish Fed minutes yesterday added to the…
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USDTRY- thick daily cloud continues to cap recovery attempts
Recovery rally from 3.7380 (16 Feb low) shows strong signs of stall as thick daily cloud (cloud base lies at 3.7974) continues to cap (brief probes in past couple of sessions through cloud base were short-lived). Repeated strong upside…
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SPOT GOLD – bearish outlook with consolidation preceding fresh weakness
Spot Gold is consolidating above new 1 ½ week low at $1320 (Fibo 76.4% of $1307/$1361 upleg) posted on Thursday, but maintains negative tone and holds in red for the fifth consecutive day.
Hawkish tone from Fed minutes released on…
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WTI OIL – bears cracked key supports; weekly crude stocks report eyed for fresh signals
WTI oil price fell further on Thursday, driven by stronger dollar and probed below pivotal support at $60.93 (Fibo 38.2% of $58.19/$62.63 upleg).
Today's dip was contained by 10SMA ($60.75) with subsequent bounce signaling hesitation at…
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