COPPER – correction is pausing but downside risk remains
Bears are taking a breather after pullback from new high at $3.3200 found footstep at $3.2200 zone and price bounced higher on weaker dollar on Tuesday.
Bullish Doji reversal pattern is forming on daily chart but requires strong bullish…
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SPOT GOLD – risk of deeper pullback
Spot Gold remains in red on Tuesday and retests spike lows of past two days ($1314/13) left after repeated downside rejections.
The yellow metal is pressured by higher dollar and rising bets on further US interest rate hikes in 2018.
Fresh…
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WTI OIL posts new 2 ½ year high but risk of stall persists
WTI oil remains well supported and posted new high at $62.53 on Tuesday (the highest since mid-May 2015).
Oil price spiked higher after a narrow three-day consolidation, generating signal of bullish continuation
Overall bullish sentiment…
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AUDUSD – fresh weakness pressures strong support provided by daily cloud top / rising 10SMA
The Aussie accelerated sharply lower in early European hours, erasing brief gains made overnight on upbeat Australian data.
Fresh strength of the greenback put its antipodean counterpart under fresh pressure. The pair trades in red for the…
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GBPUSD – key supports at 1.3500 zone in focus after repeated rejection under 1.3600
Cable moved lower in early European trading on Tuesday after the action in Asia moved within narrow range and repeatedly rejected at 1.3580 zone.
Daily indicators are turning lower and signaling that broader bulls may be running out of…
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USDJPY recovers after BoJ-inspired fall; daily cloud top is key
The pair is slightly higher in early European trading, following sharp fall to 112.50 in Asia, as Bank of Japan trimmed the amount of its bond purchases.
Market saw the announcement from BoJ as initial signal of possible complete withdrawal…
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EURUSD – near-term bias to remain negative while 1.2000 barrier intact
The Euro traded within narrow range in Asia on Tuesday and bounced slightly in early European session, supported by upbeat German data (Nov IP 3.4% vs 1.9% f/c; Nov trade surplus widened to 22.3B from 19.9B in Oct and 20.9B f/c).
Fresh…
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USDCAD – limited correction expected ahead of fresh weakness
The greenback bounced on Monday after suffering strong losses on Thu/Fri, with strong bearish acceleration after disappointing US and upbeat Canadian jobs data last Friday.
The pair also closed higher on Friday on subsequent bounce from…
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USDTRY – bears are taking a breather above daily cloud base
The USDTRY pair moved higher on Monday after larger bears found support at 3.7300 zone, just above daily cloud base at 3.7233.
Bears may take a breather as oversold slow stochastic also shows bullish divergence on daily chart and rising…
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WTI OIL – downside rejection at $61.00 keeps bias with bulls but upside attempts could be…
WTI oil price is regaining traction and moved higher in mid-European session trading on Monday after shallow correction on Friday was contained just above psychological $61.00 support.
Strong downside rejection last Friday sidelined signals…
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