USDCAD extended rally pressures 1.25 barrier, twisting daily cloud could attract for further advance
The USDCAD pair extends rally on Monday and broke through strong barrier at 1.2460 (Fibo 61.8% of 1.2590/1.2248 downleg).
Uncertainty over NAFTA talks keeps the greenback bid for extension of Friday's 1.3% rally, which was accelerated by…
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COPPER – rising daily cloud underpins recovery but limited upside seen so far
Copper price bounced on Monday as dollar's bulls are taking a breather after accelerating on upbeat US data on Friday.
Friday's action ended in red but strong rejections were seen on both sides. Upside attempts stalled at $3.1640 with…
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SPOT GOLD – limited recovery seen ahead of fresh weakness
Spot Gold is consolidating on Monday after Friday’s sharp fall on upbeat US jobs data which boosted hopes for Fed’s more aggressive approach to US monetary policy this year.
The yellow metal fell by 1.3% on Friday in the biggest one-day…
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AUDUSD bounces, boosted by upbeat Chinese data, but limited recovery seen for now
The Australian dollar bounces on Monday after pullback from 0.8135 peak which accelerated on Friday, found footstep at 0.7892 (Fibo 38.2% of 0.7500/0.8135, 11 Dec / 26 Jan rally).
Near-term sentiment was boosted by upbeat Chinese Caixin…
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USDJPY – strong signs of correction stall
The pair holds in red in early Monday’s trading and signaling increasing downside risk after last week’s three-day recovery rally failed to clear key barriers at 109.26/32 (double-Fibonacci resistances, 61.8% of 111.48/108.28 and 38.2% of…
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EURUSD – bullish bias while above 10SMA, but risk of deeper pullback exists
The Euro is trading within narrow range in early Monday, but still above rising 10SMA (currently at 1.2413) which tracks the ascend and marks initial support.
Friday’s close in red after repeated rejection above 1.25 barrier and weekly…
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EURUSD – solid EU GDP data supported bounce above 1.24
The Euro bounces above 1.24 handle after failure to break below Monday's low at 1.2336, underpinned by rising 10SMA (1.2322) which stayed intact.
Fresh advance cracked barrier at 1.2412 (Fibo 38.2% of 1.2537/1.2334 pullback) and pressuring…
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AUDUSD extended pullback stays so far above pivotal supports at 0.8033/00
The Aussie dipped to 0.8042 on Tuesday, in extension of pullback from 0.8135 peak but stayed above rising 10SMA (0.8033) which marks the first pivot.
Subsequent bounce returned into thick hourly cloud (spanned between 0.8070 and 0.8098),…
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USDJPY – bearish outlook below weekly cloud base
The pair moved lower in early European trading after recovery attempts overnight were repeatedly capped at 109.20 (Monday's high).
Repeated close below weekly cloud base (109.10) maintains negative tone and adds to negative near-term…
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EURUSD stands at the back foot ahead of EU data
The Euro remains in red on Tuesday and probes again through cracked daily Tenkan-sen (1.2351), looking for retest of Monday's spike low at 1.2336 and attack at rising 10SMA at 1.2316.
Studies on lower timeframes are in negative setup and…
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