GOLD recovery hits new 2-week high but risk of stall exists
Spot Gold maintains firm tone and holding near two-week high at $1265, on Tuesday, following strong rally on Monday.
The yellow metal was lifted by weaker dollar on concerns about US tax reforms plan and ahead of US housing data, due later…
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AUDUSD – recovery remains limited by 200SMA as falling daily cloud continues to weigh
The Aussie dollar maintains firm tone on Tuesday and ticked higher in attempts to test three-day consolidation top at 0.7694.
Resistance is reinforced by 200SMA and marks the lower side of strong resistance zone between 0.7694 and 0.7714,…
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USDJPY – trading in extended consolidation between 20 and 10SMA's
The pair is holding in consolidation for the fourth straight day, entrenched in the range between 20SMA (112.33) and converged 10/55SMA's (112.85).
Mixed daily techs do not provide clear direction signal but last week's long bearish candle…
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GBPUSD – bulls need firm break above 1.3395 Fibo barrier to signal continuation
Cable remains bid in early Tuesday's trading but with limited upside action seen so far. Near-term structure is underpinned by rising 30SMA and thickening daily cloud, with today's action being held at 1.3360 support (broken Fibo 23.6% of…
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EURUSD – fresh attempts at daily cloud top
The Euro remains firm and probes above 1.1800 mark on Tuesday after Monday's action formed outside day pattern, suggesting further advance.
Bulls tested initial barrier at 1.1810 (Fibo 38.2% of 1.1961/1.1717) and look for another attack at…
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COPPER extends rally into eight consecutive day; bulls look for break above daily cloud top
Copper trades in uninterrupted rally which extends to eight straight day and trading deeply in daily cloud, which was penetrated on Friday's fresh bullish extension.
Bulls are looking for final push towards key barriers at $3.1245/69 (01…
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GBPUSD – near-term bias turns negative and favors attack at key 1.3302 support
Cable came under pressure in early hours of European session and broke below pivotal supports at 1.3401 (10 SMA) and 1.3374 (20SMA), weakening near-term structure.
Fresh bearish acceleration at the beginning of American session approached…
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SPOT GOLD – weaker dollar inflates gold price; plethora of barriers comes in focus
Spot Gold regains traction and pressures Thursday's one-week high at $1259 after shallow correction was contained at $1250.
The dollar eased on Friday on fresh concerns over US tax reform, boosting gold's price.
Recovery leg from $1236 (12…
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AUDUSD – bulls extend into fifth straight day and look for attack at daily cloud base
The Aussie dollar holds in green for the fifth consecutive day and fresh extension on Friday cracks 200SMA barrier at 0.7691.
Daily studies are turning into full bullish setup and support further advance, as US dollar's sentiment remains…
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USDJPY – bears pressure pivotal Fibo support at 111.95
The pair remains in red for the third straight day and hit marginally lower low on Friday at 112.02, pressuring strong support at 111.95 (Fibo 61.8% of 110.83/113.74 / 06 Dec low).
Break and close below 111.95 would generate bearish signal…
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