AUDUSD – bears show hesitation ahead of key supports
The pair entered consolidation phase on Thursday, following strong fall the previous day, after Fed minutes inflated the greenback.Near-term action is moving within daily cloud, which was penetrated on Wednesday's strong bearish…
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GBPUSD – weaker than expected UK Q$ GDP could further boost bears
Cable continues to trend lower and hit new low at 1.3869 in early European trading on Thursday (the lowest since 16 Feb), pressured by stronger dollar.
Bearish setup on daily techs adds to negative near-term outlook which could drive pound…
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USDJPY – reversal signal is developing on daily chart; 107 is key
The pair holds in red on Thursday and showing initial signal of reversal after strong rally of past four days stalled on approach at 108 barrier.
Pullback from recovery high at 107.90, posted on Wednesday, returned below falling 10SMA…
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EURUSD – extended weakness after hawkish Fed minutes exposes key supports at 1.2205/1.2173
The Euro remains in red on Thursday and hit 1 ½ week low at 1.2259 after Fed minutes further inflated the dollar.
Minutes of Fed's 30/31 Jan policy meeting showed the US policymakers upgraded their forecasts for economic outlook since…
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GBPUSD – another downside rejection; range is narrowing ahead of FOMC minutes
Sterling bounced after cracking important support at 1.3909 (Fibo 61.8% of 1.3764/1.4144 upleg) on unexpected rise in UK unemployment but dip was again short-lived, forming another long-tailed daily candle.
However, series of lower highs…
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COPPER – bears show hesitation after penetrating daily cloud
Extension of pullback from $3.2710 peak (16 Feb) broke into daily cloud on Wednesday and hit one-week low at $3.1630 (near mid-point of daily cloud, spanned between $3.1895 and $3.1312) where bears were contained by 10SMA.
Subsequent…
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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…
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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…
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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…
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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…
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