WTI OIL – bulls eye $60 target but consolidation may precede rally
WTI maintains firm tone and posted fresh high at $58.68 on Friday, hitting the highest level since June 2015.
Oil price remains supported by further draws in crude oil inventories and growing signs of global oil market rebalancing.
Eyes…
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EURGBP – base of thick daily cloud caps recovery for now
The cross remains constructive and briefly extended recovery on Friday but gains faced strong headwind from base of thick daily cloud (0.8920) which so far capped the upleg from 0.8841 trough.
Cloud base is reinforced by daily Tenkan-sen…
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AUDUSD – bear-trendline continues to cap recovery attempts
Early Friday’s action remains in red as recovery leg from 0.7530 shows initial signs of stall.
Falling trendline off 0.8102 (20 Sep high) marks strong barrier (reinforced by 20SMA) and continues to cap corrective attempts.
Overbought slow…
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USDJPY – Doji reversal signal is forming but limited recovery keeps the downside at risk
Reversal signal is forming on daily chart after yesterday’s trading ended in tight Doji.
Fresh recovery attempts today were so far limited and lacking momentum for stronger upside which requires break above 100/200SMA’s (111.64/70) which…
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GBPUSD- bullish continuation on break of 1.3337 barrier; daily cloud underpins
Cable is slightly lower on Friday after Thursday’s close in red, but holding above daily cloud top which offers strong support at 1.3273.
Bullish sentiment is expected to stay in play while consolidation holds above cloud top, as bullish…
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EURUSD – bulls look for break above cloud top to generate continuation signal
The Euro traded within narrow range in Asia on Friday, holding in the middle of daily cloud.
Easing concerns about political situation in Germany could be supportive for the single currency, along with bullish tech.
Strong rally in past two…
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AUDUSD – recovery faces strong headwinds from trendline resistance
Recovery rally from Tuesday’s low at 0.7530 extends into third consecutive day and faces strong headwinds at 0.7540 zone.
Resistance is provided by 20SMA / bear-trendline from 20 Sep 0.8102 peak and marks key obstacle for near-term…
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USDTRY pulls back from fresh record high on weaker dollar
The pair holds in red for the second day and extends pullback from record high at 3.9814 as the greenback came under pressure from dovish remarks from Fed policymakers on FOMC minutes on Wednesday.
This comes as a relief for Turkish lira…
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US CRUDE is holding near 2 ½ year high; bulls to resume after consolidation
WTI oil is slightly lower on Thursday but holding near fresh 2 ½ year high at $58.13, posted on Wednesday.
Strong bullish sentiment on firm signs of oil markets rebalancing, draws in oil inventories and optimism about OPEC's output cut…
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SPOT GOLD – repeated failure at daily cloud base but sentiment remains positive
Spot Gold price eased below daily cloud base ($1290) which was cracked on Wednesday's rally, boosted by dovish stance from Fed's policymakers.
Base of thickening daily cloud proves to be very strong barrier as several attempts to clearly…
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