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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USDTRY – recovery rally extends but faces strong headwinds from thick daily cloud base
The USDTRY pair rallied on Monday on broader dollar's recovery, retracing so 50% of recent 3.8458/3.7153 bear-leg.
Recovery attempts were so far capped at 3.7868 and unable to clearly break pivotal barrier at 3.7800 (converged daily…
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COPPER – repeated recovery rejections keeps the downside vulnerable
Copper price is struggling to hold recovery as repeated upside rejection occurred today ($3.1975) after Friday' long-legged Doji signaled that weakness from last week's high at $3.2565 might be running out of steam.
Long bullish candle that…
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WTI OIL price eases on rising US output fears; overall picture is bullish
WTI oil price eased below $66 on Monday after hitting fresh three-year high at $66.64 last week and renewed attempts higher repeatedly stalled under new high.
Oli price came under pressure on fears that soaring US production could undermine…
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USDJPY – broken weekly cloud base caps consolidation for now
The pair is consolidating above last Friday's fresh low at 108.28 on Monday, with the action being so far capped by broken supports at 109.06/10 (Fibo 76.4% / weekly cloud base) now acting as solid resistances.
Friday's close below these…
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GBPUSD – risk of deeper pullback towards strong 1.40 support exists
Cable eases in early Monday's trading and pressures 1.41 support, following last week's double upside rejection at 1.43 zone.
Friday's candle with long upper shadow, left after strong rejection ticks under 1.4300 barrier weighs on near-term…
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EURUSD may ease further as dollar regains traction; overall bulls favor further upside after…
The Euro stands at the back foot at the beginning of the week and tested supports at 1.2400 zone on Monday, as dollar ticked higher against the basket of major currencies, boosted by overall solid US GDP data last Friday.
This signals a…
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USDJPY – bias remains negative after mixed US data
The US dollar moved higher across the board after of US data on Friday showed mixed results. Key event was release of US Q4 GDP which fell below expectations, showing US economic growth slowed in the fourth quarter.
GDP increased 2.6% at…
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