USDJPY – Hawkish remarks from Fed Yellen lift dollar above 200SMA barrier
The dollar rose across the board on optimistic remarks from Fed chair Yellen, ahead of her testimony to Congress later today.
Yellen said that strengthening of the US economy will warrant continues interest rate increases and weak inflation…
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GBPJPY – recovery resumption needs firm break above daily cloud and psychological 150 barrier
Recovery rally from 147.80 higher base and yesterday’s spike to 146.97, where strong downside rejection occurred, extends today and probes above strong barrier at 149.40 provided by daily cloud top, reinforced by daily Kijun-sen.
Close…
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EURGBP – bears eye 200SMA target after completion of H&S pattern on daily chart
The cross extends steep descend into third consecutive day and generated bearish signals on completion of asymmetric H&S pattern on daily chart (broken neckline lies at 0.8868) and break below 0.8840 (Fibo 61.8% of 0.8732/0.9013…
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COPPER extends steep descend below daily cloud
Copper hit one-week low on today’s extension of steep fall from $3.1750 peak which generated strong bearish signal on break below daily cloud base ($3.0663).
Bears are looking for full retracement of $3.0305/$3.1750 upleg, with growing risk…
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USDCAD – fresh bullish acceleration signals full retracement of 1.2916/1.2665 correction
The pair advances further on Wednesday and breaks above pivotal barriers at 1.2820 (Fibo 61.8% of 1.2916/1.2665) and 1.2836 (21 Nov former recovery peak).
Break here to confirm higher base at 1.2665/70 for full retracement of 1.2916/1.2665…
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SPOT GOLD – directionless n/t action eyes US data / Fed Yellen’s speech for fresh signals
Spot Gold made no reaction on North Korea’s latest missile launch, staying in directionless mode for the second day.
A batch of data from the US are due today and along with speech of Fed’s chair Janet Yellen, expected to provide more clues…
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WTI OIL – weak tone on surprise oil stocks rise; OPEC meeting in focus
WTI oil stands at the back foot on Wednesday but holding above previous day’s low at $57.41. Oil price remains under pressure on concerns whether major oil exporters will reach a deal about extending current output cut beyond March 2018.…
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AUDUSD – rising downside risk as 10SMA support gives way; falling trendline continues to cap
The Aussie dollar maintains negative near-term bias following repeated upside rejections and holding in red for the fourth consecutive day.
Falling bear-trendline which limited recovery phase, continues to cap descend from correction high…
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Cable broke above 1.3415 target
Fresh bullish acceleration in early European trading surged through target at 1.3415 (Fibo 61.8% of 1.3655/1.3026 descend) and generated strong signal of bullish continuation after the price was congested in past few sessions.
Fresh rally…
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EURUSD – recovery needs lift above daily cloud for confirmation; EU data eyed for fresh signal
The Euro bounced on Wednesday after two-day pullback found ground at 1.1826, contained by strong support, provided by daily cloud base and reinforced by rising 10SMA.
Fresh rally eyes pivotal barrier at 1.1877 (daily cloud base) break of…
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