GBPUSD – penetration of daily cloud signals extended correction
Cable remains under pressure in the American session and cracked daily cloud top which marks solid support at 1.3276.
Weakening near-term studies favor firm break through cloud top (cloud is spanned between 1.3276 and 1.3214) and test of…
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SPOT GOLD – eventual break into daily cloud signals further upside
Spot Gold price maintains firm tone on Tuesday and holding near fresh high at $1299 (the highest since mid-October).
The yellow metal’s price eventually broke into thickening daily cloud (spanned between $1289 and $1309) after cloud base…
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WTI OIL extends pullback from $59.02; markets focus key event – OPEC policy meeting
WTI oil price fell further on Tuesday, in extension of Monday’s over 1% losses on pullback from recovery peak at $59.02.
Pullback on oversold daily techs could extend further to test solid supports at $57.17 (rising 10SMA) and $56.65…
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COPPER – extended bears tested critical support provided by daily cloud base
Copper extends steep pullback from $3.1750 high (double upside rejection) and tested key support at $3.0642 (daily cloud base).
Bears were so far unable to break below cloud base after Tuesday’s strong bearish acceleration surged into thick…
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AUDUSD – near-term bias turns lower after repeated upside rejections
The Aussie dollar stands at the back foot on Tuesday following previous day’s strong upside rejection and repeated close below trendline resistance.
Fresh weakness is pressuring 10SMA support (0.7592) the lower boundary of near-term…
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USDJPY – strong hesitation at 111.02 Fibo support could result in extended consolidation
The pair shows strong hesitation at 111.02 support (50% of 107.31/114.73 rally) which was repeatedly cracked (dips to 110.83/92 on Mon/Tue) but so far without clear break lower.
Near-term action may hold in extended consolidation above…
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GBPUSD – signals of stall on repeated upside rejection
Cable stands at the back foot in early Tuesday’s trading and attacks 1.3300 support broken bear-trendline connecting former 1.3337/20 highs.
Monday’s action ended in Doji candle with long upper shadow, signaling possible stall, as repeated…
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EURUSD – corrective dips seen as opportunity to rejoin bulls for attack at 1.2000 target
The Euro extended easing from Monday’s high at 1.1961 where bulls stalled, shy of initial Fibo 76.4% target at 1.1965.
Corrective easing could be seen as buying opportunity for eventual attack at psychological 1.2000 barrier, as overall…
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USDCAD bounces from dangerous zone on upbeat US data
The pair accelerated sharply higher as the greenback was strongly boosted by upbeat US data.
US new home sales unexpectedly rose in October (6.2% / 685K vs -6.0% / 625K forecast) hitting the highest level since October 2007.
Fresh rally…
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GBPUSD at new two-month high; bulls eye target at 1.3415
Cable posted new nearly two-month high at 1.3382 on Monday after fresh bullish acceleration triggered stops above Friday’s high at 1.3359.
Immediate focus lies at 1.3401 (02 Oct high) ahead of key target at 1.3415 (Fibo 61.8% of…
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