GBPUSD – bulls eye 1.40 barrier; UK retail sales data in focus
Fresh bullish extension on Friday pressures new post-Brexit vote recovery high at 1.3942 (Wednesday's spike high).
Cable maintains strong bullish sentiment and eyes psychological 1.4000 barrier for test, as weaker dollar underpins.
Strong…
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EURUSD rises on weaker dollar; looks for retest of 1.2323 peak
The Euro remains firm on Friday and extends recovery from 1.2165 (Fibo support / Thursday's low) where corrective dip off 1.2323 peak found support.
The single currency was boosted by fresh weakness of the dollar, pressured by fears about…
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Copper – recovery from 3.1758 footstep lacks momentum
Copper price rose on Thursday, boosted by strong Chinese IP data and better than expected Q4 GDP numbers.
The metal bounced from strong support at $3.1758 (Fibo 38.2% of $2.9425/$3.3200 upleg) reinforced by rising 30SMA, where corrective…
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USDTRY drops after CBRT kept rates unchanged
The USDTRY pair dipped after Turkish central bank left interest rates unchanged in its first meeting in 2018. The action was widely expected as Turkish President Erdogan opposes high interest rates to provide cheap credit to boost growth.…
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WTI OIL – rising 10 SMA contains for now; EIA crude stocks report eyed
WTI oil ticked higher on Thursday, supported by stronger than expected draw in crude stocks (API report on Tuesday showed draw of 5.12 million barrels vs 3.6 million barrels draw forecasted) and threats of attack at oil infrastructure in…
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USDCAD – triple Doji signals strong indecision but bias remains negative
The pair remains in directionless mode on Thursday and forming the third straight Doji. Strong indecision signal was generated after Wednesday’s action ended in Doji candle with very long legs.
Overall structure is bearish and keeps focus…
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AUDUSD – solid Australian / China data boosted Aussie but without break above 0.8000 so far
The Aussie dollar regained traction and bounced from session low at 0.7941, regaining levels near cracked 0.8000 barrier, following Wednesday’s strong rejection at 0.8022 on first attempt above 0.8000 pivot.
Better than expected Australian…
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USDJPY – strong signals for extended recovery but plenty of barriers en-route
Strong recovery rally on Wednesday left long bullish daily candle and formed bullish outside day, generating positive signal and sidelining immediate downside risk.
Brief extension higher today, cracked important barrier at 111.41 (Fibo…
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GBPUSD – choppy trading after Wed’s strong upside rejection; bulls keep 1.4000 barrier in focus
Cable maintains firm tone on Thursday despite strong upside rejection after spike to 1.3942 high (the highest since Brexit vote) previous day.
Choppy trading was caused by increased volatility on political uncertainty over Brexit divorce…
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EURUSD – deeper pullback or reversal?
The Euro posted new low at 1.2165 in early Thursday’s trading, but bounced back to 1.2200 zone, sidelining immediate downside risk.
Wednesday’s strong rejection above 1.2300 mark left big bearish daily candle with long upper shadow,…
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