EURUSD – consolidation above daily cloud to precede rally towards 1.2000 target
The Euro is maintaining firm tone and consolidating under fresh two-month high at 1.1944 on Monday.
Last Friday’s rally that closed well above pivotal barriers at 1.1877/86 (daily cloud top / Fibo 61.8% barrier) was strong bullish signal…
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Copper extends steep ascend into sixth straight day
Copper future contract for December delivery continues to trend higher and extends steep ascend into sixth straight day.
The rally was underpinned by rising and widening daily cloud and supported by weaker US dollar and showed no impact…
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USDTRY – Doji reversal pattern on daily chart signals fresh attack at all-time high
The pair regains traction after shallow correction to 3.90 was contained by rising 10SMA. Fresh bullish acceleration completes Doji reversal pattern on daily chart and turns focus towards new record high at 3.9814, posted this week.
The…
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SPOT GOLD – daily cloud continues to heavily weigh and limit upside attempts
Holiday-thinned conditions keep gold price within narrow range on Friday with action being repeatedly capped by thickening daily cloud (spanned between $1294 and $1308).
Cloud continues to heavily weigh on near-term action, despite bullish…
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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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