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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USDJPY – rising downside risk on repeated rejection at cloud top
The pair ticked higher on Tuesday, leaving temporary footstep at 112.36 (Mon/Tue lows) intact but remaining below initial barrier at 112.78 (daily Kijun-sen).
Monday's close in red and repeated rejection at daily cloud top, as well as…
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EURUSD trades in extended consolidation above daily cloud top
The EURUSD traded within narrow range overnight and remains directionless at the beginning of the European session.
The pair is holding within triangular consolidation under 1.1961, which could extend further until generating fresh signal.…
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GBPUSD – overall bullish bias sees deeper correction preceding fresh rally
Cable stands at the back foot in early Tuesday's trading and pressuring Monday's low at 1.3412, n bearish acceleration from Asian high at 1.3481.
Yesterday's strong upside rejection near key 1.3549 barrier and subsequent pullback was…
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GBPUSD – no Brexit deal disappoints bulls but hopes of fresh upside are still in play
Cable was on roller-coaster in Monday’s afternoon trading, initially regaining traction and bouncing near last Thu/Fri highs (1.3549), boosted by upbeat UK Construction PMI data and increasing Brexit optimism, and fell sharply to new…
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USDCAD – strong bears pressure key supports at 1.2670 zone
USDCAD pair remains under strong pressure on Monday and extending Friday's strong fall on upbeat Canadian data, pressuring key supports at 1.2670 zone (multiple downside rejections which formed base).
Break below 1.2670 pivot and violation…
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COPPER – bullish sentiment but daily cloud top caps
Copper holds positive tone at the beginning of the week as manufacturing demand from China, metal's top consumer, offset immediate negative impact on stronger dollar.
However, today's fresh attempts higher failed again to break above cloud…
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