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…
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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…
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GOLD stays in red on stronger dollar, pressures pivotal supports at $1336/34
Spot Gold continues to move lower on stronger dollar, trading in red for the third straight day.
Fresh weakness commenced after strong upside rejection at $1361 on Friday and extended to one-week low at $1336 on Tuesday, where daily…
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WTI OIL eases after week-long rally; rising cloud continues to underpin
WTI rose eased on Tuesday after hitting new nearly three-week high at $62.63, as overbought slow stochastic on daily chart suggests that four-day recovery from higher base at $58.10 zone may take a breather.
Rising daily cloud which…
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Cable returns above 1.40 on media report regarding Brexit
Sterling bounced back above 1.40 barrier on media report saying that the EU parliament was preparing to call for giving Britain privileged single market access.
The rally sidelined immediate downside risk after fresh bears probed below…
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AUDUSD – stronger direction signals on break below 10SMA (0.7871) or above 0.80 zone
The Australian dollar stands at the back foot on Tuesday and probes below 0.79 handle, signaling extension of pullback from Friday's high and strong upside rejection at 0.7988, where recovery rally stalled just ahead of 0.7991 Fibo barrier…
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USDJPY – extended recovery to be ideally capped by daily Tenkan-sen / 10SMA
The dollar extends recovery from 105.54 (last Friday's spike low) and probes above 107 handle in early Tuesday's trading.
Daily RSI and slow stochastic are heading north after reversing from oversold territory and signaling further…
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GBPUSD maintains bearish n/t bias, cracks 10SMA pivot
Cable remains in red for the third straight day and extends pullback from 1.4144 (16 Feb high), probing through converged 10/30SMA's at 1.3951.
Repeated close below 20SMA (1.4030) on Monday and loss of psychological 1.40 support were…
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EURUSD – n/t bears resume after Monday’s Doji; risk further easing
The Euro stands at the back foot on Tuesday and accelerated through support at 1.2380 (20SMA), triggering fresh extension of bear-leg from 1.2555 (16 Feb high) after Monday's action ended in Doji, signaling indecision.
Studies on lower…
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USDCAD rallies on upbeat US and weak Canada’s data
The US dollar rallied against its Canadian counterpart on Friday, boosted by upbeat US housing data, while loonie came under pressure on weaker than expected Canada's data.
US building permits rose by 7.4% in January, compared to -0.2% in…
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