USDJPY hits new 15-month low ahead of key US data
The pair posted new 15-month low at 106.83 in Asian session on Wednesday, on eventual break through key med-term support at 107.31 (08 Sep low).
Fresh strength of yen was driven by overnight's fall of Nikkei for over 1% as well as growing…
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GBPJPY – bears look for further extension while daily cloud caps
The cross holds in red on Tuesday and attempts towards Friday's spike low and strong downside rejection at 148.91, after Monday's long-legged Doji candle signaled a breather in steep fall from 156.60 (02 Feb peak).
Sterling remains mixed…
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Copper surges into daily cloud, driven by weaker dollar / profit-taking
Copper surged on Tuesday, extending recovery rally from $3.0250 low for the second day, driven by weaker dollar and traders covering short position ahead of Chinese New Year holiday.
Fresh bullish acceleration took out two Fibo barriers at…
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GBPUSD – Inflation overshoot inflates pound but concerns about Brexit persist
Cable rose to new session high at 1.3924 after data showed UK inflation unexpectedly rose in January (3.0% vs 2.9% f/c) remaining close to six-year high at 3.1%.
Near-term sentiment improves further as strong inflation numbers support…
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SPOT GOLD extends recovery, boosted by weaker dollar / rising demand on Chinese New Year
Spot Gold stands at the front foot on Tuesday and extends recovery rally from $1307 (08 Feb correction low) to crack strong barriers at $1330 zone (Fibo 38.2% of $1366/$1307 bear-leg / converged 10/30 SMA’s).
Weaker dollar on signs of…
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WTI OIL consolidates within daily cloud; eyes crude inventories data for fresh signals
WTI oil is holding within tight range on Tuesday, extending consolidation above new five-week low at $58.06, posted after steep fall last week.
The price remains within daily cloud following Monday’s recovery attempt which spiked to $60.81…
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AUDUSD – extended recovery faces strong resistances at 0.7890/0.7910 zone
The Australian dollar extends bounce from 0.7758 low (09 Feb) where steep descend from 0.8135 faced strong headwinds from supports provided by 200SMA and rising daily cloud.
Recovery extends into third day but shows signs of losing…
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EURUSD – near-term bias remains with bulls for recovery extension
The Euro remains constructive on Tuesday and cracked pivotal barrier at 1.2326 (Fibo 38.2% of 1.2522/1.2205 bear-leg), signaling stronger upside after completion of Doji reversal pattern on daily chart.
Recovery needs to break above…
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Cable stands at the front foot ahead of UK inflation data
Cable remains positive in early Tuesday's trading and pressures Monday's high at 1.3875, but recovery attempts from Friday's low at 1.3764 so far did not show stronger gains and remain capped by broken ascending 30SMA (currently at 1.3873).…
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USDJPY – fresh bears broke below 108 and pressuring key support at 107.31
The pair accelerated lower in late Asian / early European trading and eventually broke below strong 108.28/00 support zone.
Fresh weakness of the dollar comes on signs of stabilization in global equity market which prompted investors into…
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