EURUSD – choppy trading within the cloud ahead of FOMC
The Euro remains constructive on Tuesday and attempts higher again after Monday's recovery stalled at 1.1810 pivot (Fibo 38.2% of 1.1940/1.1730 downleg) and subsequent pullback returned to key support at 1.1756, provided by 55SMA.
The pair…
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AUDUSD extends recovery despite weak Australian data
The Australian dollar extended recovery on Tuesday and pressuring pivotal barrier at 0.7560 (falling 10SMA / Fibo 38.2% of 0.7653/0.7499 downleg).
The Aussie rose despite weaker than expected Australian data released on Tuesday, showing the…
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Copper extends recovery after breaking above three-day congestion
Copper extended recovery on Monday after the price was congested in past three sessions. Initial signal of recovery was generated on break above congestion tops at $2.9900 zone, with fresh advance hitting next pivotal barrier at $3.0120…
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TRY rallies after upbeat data; focus on Fed; CBRT later this week
Turkish lira extends advance against US dollar for the second day. Upbeat economic data from Turkey, released today, offered fresh support to lira which resumes recovery from all-time low, posted on 22 Nov.
Turkish Q3 GDP surprised in Q3 at…
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SPOT GOLD – correction seen as positioning for FOMC event
Spot Gold entered corrective mode on Monday after last week's steep fall showed signs of stall, as Friday's trading ended in Doji candle after hitting 4 ½ month low at $1244.
Doji reversal pattern is forming on daily chart, with deeply…
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WTI Oil – limited downside risk while rising daily Kijun-sen holds dips
WTI oil price edged lower on Monday after strong rally on Thu/Fri which peaked at $57.77, retracing over 61.8% of $58.86/$55.81 bear-leg.
Today’s action was so far shaped in Doji candle and holding between daily Kijun-sen ($56.91) and…
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AUDUSD may extend correction on completion of Doji reversal pattern
The Aussie dollar bounces on Monday after repeatedly failing to clear 0.7500 support (lows of 7/8/11 Dec).
Support is reinforced by bull-trendline, drawn off 0.6825 (15 Jan 2016 low) which currently lies at 0.7480.
Fresh rally is forming…
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USDJPY – hourly cloud to contain corrective dips
The pair probes below initial support at 113.37, provided by daily cloud top after Monday's action posted marginally higher high at 113.68 (against Friday's high at 113.58), but unable to sustain gains.
Strong rally on Thu/Fri generated…
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GBPUSD – risk of deeper correction below 20SMA
Cable stands at the back foot in trading of Monday and fell near Friday's low (1.3356) at the beginning of European session, after recovery attempts stalled at 1.3431 (capped by broken 10SMA).
Fresh weakness pressures strong support at…
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EURUSD – correction to precede fresh downside
The Euro rose in early Monday's trading after Friday's action ended in long-tailed Doji, generating initial signal of near-term downtrend stall.
Recovery attempts were so far limited under 1.1800 handle (top of falling hourly cloud)…
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