USDJPY – recovery action show initial signs of stall
The pair remains in red on Friday and extends pullback from Tuesday's rally peak at 107.01 below 30SMA (106.33), which contained weakness on Thursday.
Fresh bears pressure pivotal support at 106.10 (20SMA / Fibo 38.2% of 104.63/107.01…
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GBPUSD – daily cloud continues to underpin for stronger recovery
Cable bounces after repeated attack at top of thick daily cloud (1.4012) was rejected. Cloud continues to underpin, with support reinforced by rising 20SMA (1.3995), which could result in stronger recovery of three-day fall from 1.4244.…
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EURUSD – attempts to form Doji reversal pattern but plethora of MA’s limits recovery…
The Euro is slightly higher in early Friday's trading after yesterday' s Doji signaled that sharp fall of past two days might be running out of steam.
Brief recovery attempts (the pair was up around 30 pips from Asian low at 1.2290) so far…
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USDCAD – 20SMA continues to cap recovery despite strong US and downbeat Canadian data
The pair showed limited reaction on better than expected US weekly jobless claims (215K vs 230K f/c) and downbeat Canadian GDP data (m/m Jan GDP -0.1% vs 0.1% f/c and annualized -0.3% vs 2.9% f/c).
Extension of recovery rally from 1.2814…
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COPPER – recovery gains traction and tests key barriers
Copper moved higher on Thursday and probes above past-three days congestion, cracking pivotal barriers at 3.0239/82 (Fibo 38.2% of $3.1645/$2.9370 fall / falling 10SMA).
The metal received support from easing fears of trade war which kept…
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WTI OIL – downside remains vulnerable despite quick bounce after Wednesday’s post-data…
WTI oil stands at the back foot on Thursday and keeps the downside vulnerable. The price spiked to new low at $63.71 after surprise build in crude stocks on Wednesday (EIA report showed crude inventories rose by 1.6 million barrels vs…
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AUDUSD consolidate above weekly cloud base; falling 10SMA to cap upticks before bears resume
The Aussie dollar is slightly higher on Thursday, in consolidation above weekly cloud base (0.7641) which contained strong fall in past two days.
Tuesday's outside day and fresh extension lower on Wednesday continue to weigh, along with…
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USDJPY consolidates under fresh recovery high; bullish n/t structure to remain intact while above…
The pair is consolidating under fresh recovery high at 107.01 on Thursday, after previous day's strong rally when dollar was up 1.5% against yen, on the biggest one-day rally s since 15 June 2017.
The structure on daily chart improved…
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EURUSD stands at the back foot after heavy looses on Wednesday, risks bearish extension towards key…
The Euro traded within 30-pips range on in Asia / early Europe on Thursday, consolidating after previous day's strong fall.
Extension of pullback from 1.2476 (Tuesday's peak) found footstep at 1.2300 (Fibo 76.4% of 1.2241/1.2476 upleg) but…
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GBPUSD – bears tested strong support at 1.4040; UK GDP / CA data in focus for fresh signals
Cable extends lower in early hours of European session on Thursday after consolidating losses of past two days in Asia.
Fresh weakness cracked strong support at 1.4040 (bull-channel support line / Fibo 38.2% of 1.3711/1.4244 rally) and…
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