USDJPY – break below 112.00 support zone to confirm reversal
The pair holds in red on Wednesday and tested pivotal support at 111.96 (daily Tenkan-sen) after strong bearish signal was generated on multiple strong upside rejections under daily cloud top.
Confirmation of reversal needs break below…
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GBPUSD – downside remains at risk on political uncertainty
Cable maintains weak tone on Wednesday, weighed by Brexit concerns and probes through cracked rising 10SMA (1.3400).
Tuesday dip to 1.3370 was short-lived, marking strong downside rejection on daily close well above 10SMA which marks…
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EURUSD – close in the cloud was bearish signal but confirmation needs break below a cluster of…
The Euro remains in red and holding in the daily cloud on Wednesday. Bearish signal was generated on Tuesday's dip to 1.1800 which cracked Fibo 38.2% support at 1.1805 and close below cloud top (1.1833).
Near-term bias is negative, however,…
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AUDUSD – Shooting star warns of reversal
The Aussie dollar stands at the back foot on Wednesday and dipped to session low at 0.7571 after Australian GDP fell below forecast in Q3. Overnight's action was capped by daily Kijun-sen (0.7630) which marks solid resistance ahead of…
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SPOT GOLD attempts through key supports
Spot Gold accelerated sharply lower on Tuesday, taking out $1270 base and probing below $1267 (Fibo 38.2% of $1122/$1357 and $1266 (200SMA).
Bears pressure key supports at $1263 (27 Oct low / Fibo 61.8% of $1204/$1357) and $1260 (base of…
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EURUSD – close in the cloud to generate bearish signal
The Euro probed into daily cloud in extension of easing from Asian high at 1.1876. Violation of significant support at 1.1833, provided by cloud top, requires close within the cloud for bearish signal.
Bearish extension would expose strong…
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COPPER – sharp fall broke below key supports
Copper was sharply down on Tuesday and moved into negative territory, hitting two-month low at $3.0170.
Strong bearish acceleration was triggered profit-taking actions which also offset positive impact from better than expected China's PMI…
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SPOT GOLD consolidates under widening daily cloud; near-term bias remains negative
Spot Gold holds within tight range on Tuesday and awaiting series of US PMI data for fresh signals.
Repeated rejections at $1270 zone keep the downside protected for now, but upside attempts remain limited and keep near-term bias with…
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WTI OIL – risk of deeper pullback on loss of 20SMA support
WTI oil price remains in red for the second day and pressure support at $57.10 (20SMA) which guards pivot at $56.75 (29 Nov higher low).
Break here would signal increased risk of deeper pullback as loss of $56.75 handle would complete daily…
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AUDUSD generated bullish signal on post-RBA rally
Recovery is gaining pace as the pair accelerated higher on Tuesday after RBA left interest rates unchanged at 1.5% as expected. The following statement showed no changes from the previous monetary policy meeting and indicating that the…
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