AUDUSD – deeper correction cannot be ruled out
The Aussie dollar holds in red on Tuesday, dragged by stronger dollar and fall of copper price.
Bullish structure favors further advance after correction, as bulls showed signs of stall after testing barrier at 0.7977 (Fibo 76.4% of…
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USDJPY – bears are pausing ahead of strong supports at 110.15/00
The pair is consolidating above strong supports and targets at 110.15/00 (Fibo 61.8% of 107.31/114.73 ascend / psychological support) which were approached on Monday's extension to 110.32.
Strong near-term bearish bias favors selling…
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GBPUSD eases after UK CPI data; overbought conditions weigh
Cable dipped on Tuesday after strong three-day rally showed initial signs of stall ahead of important Fibo barrier at 1.3837 (61.8% of post-Brexit vote 1.5016/1.1930 fall).
Fresh easing was triggered by UK CPI data which ticked lower in…
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EURUSD – bulls are taking a breather but bullish bias remains intact
The Euro is taking a breather after steep three-day rally which peaked at 1.2296, the highest in more than three years.
Recent strong rally was supported by broadly weaker dollar and additionally boosted by hopes the ECB could further trim…
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USDTRY – recovery accelerates after repeated rejection at daily cloud base
The USDTRY bounced on Monday after repeated failure to break below the base of rising daily cloud (currently at 3.7530).
Another strong support lies in this zone – Fibo 38.2% of 3.8883/3.9814 rally and reinforces cloud base support.
Today’s…
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SPOT GOLD at new highs; focuses target at $1357
Spot Gold started week in firm bullish tone and extended strong rally of past three days to new four-month high at $1344.
The metal benefited from fresh weakness of the dollar and extended the second leg of steep rally from $1236 (12 Dec…
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COPPER – strong rally signals an end of correction
Copper rallied strongly on Monday and broke above four-day congestion, signaling that corrective phase from new high at $3.3200 may be over.
The metal received fresh support from weakening dollar which came under increased pressure on…
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WTI OIL – extended consolidation under new high; o/b conditions continue to warn
WTI oil is consolidating under new high at $64.75 (the highest since late 2014, posted last week) on Monday and holding strong bullish sentiment.
Ongoing efforts from major world oil producers to reduce the output and reduce global…
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AUDUSD – bulls accelerate further and look for test of Fibo 0.7977 and psychological 0.8000…
The Aussie dollar advanced further on Monday, supported by broadly weaker US dollar and extended steep ascend from 0.7807 trough into fourth straight day.
Weekly chart shows the pair running in uninterrupted rally from 0.7500 higher base,…
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USDJPY – bears are looking for test of key supports at 110.15/00
Fresh bearish extension on Monday took out key support at 110.83 (27 Nov low) and heading towards next strong supports at 110.15 (Fibo 61.8% of 107.31/114.73 ascend) and psychological 110.00 support.
The pair is holding in red for the fifth…
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