Copper extended recovery pressures key barriers at $3.1053 and $3.1174
Copper extends steep recovery into third day and tests barrier at $3.1053 (falling 20SMA).
Higher base is forming at $3.0324 with recovery being tracked by rising daily cloud and metal’s price supported by firmer China’s housing sector…
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SPOT GOLD is recovering after suffering heavy losses on Monday
Spot Gold price is higher on Tuesday, recovering from low at $1274, posted after Monday’s fall which marks the biggest one-day loss since late September.
Fast bearish acceleration was triggered after repeated rejection at the base of…
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USDTRY hits new record high
The Turkish lira hit new all-time low against the dollar at 3.9775 on Tuesday, in extension of previous day’s strong rally.
Persisting inflation risks and monetary policy uncertainty, along with Turkey’s strained relations with the United…
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WTI OIL – bulls return to play after Monday’s consolidation
WTI oil stands on the front foot on Tuesday and retests strong barrier at $56.72 (Fibo 61.8% of $57.90/$54.80 pullback) which repeatedly resisted attack in previous sessions.
Bulls regained traction after Monday’s strong downside rejection…
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AUDUSD – oversold dailies suggest stronger bounce
The pair trades off today’s marginally lower low at 0.7530, after failing to break below weekly 100SMA (0.7544) and showing no significant reaction on RBA minutes released overnight.
Overall structure remains firmly bearish but oversold…
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USDJPY – limited recovery while below daily Tenkan-sen
The pair is holding in extended consolidation above key supports at 111.90/71 (daily cloud top / Fibo 38.2% of 107.31/114.73 / converged 100/200SMA’s), but upside attempts were so far limited.
Daily techs are bearishly aligned and expected…
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EURUSD – fresh recovery eyes pivotal 55SMA barrier
The Euro is in recovery mode on Tuesday after strong fall on Monday was contained by rising daily Tenkan-sen which formed bullish-cross with Kijun-sen last Friday.
Recovery is underpinned by rising 4-hr cloud and probes above initial…
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GBPUSD – daily cloud top is under strong pressure; strong bullish signal expected on break
Cable remains firm and extends bull-leg from 1.3071, testing key near-term barriers at 1.3261/66 (daily cloud top / Fibo 38.2% of 1.3655/1.3026 descend), on fresh acceleration higher on Tuesday.
Resistances were cracked on Monday’s spike to…
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WTI OIL – recovery is consolidating above 10SMA
WTI oil price consolidates on Monday after Friday’s strong rally which fully retraced last Tuesday’s sharp $56.75/$54.80 fall.
Friday’s close above 10SMA ($56.33, now again acting as initial support) was bullish signal.
Overall structure…
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AUDUSD – bears are taking a breather above weekly 100SMA
The pair trades within tight consolidation on Monday after broader bears found footstep at 0.7540 zone (weekly 100SMA).
Stronger bounce cannot be ruled out as slow stochastic is reversing from oversold territory on daily chart while RSI is…
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