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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USDJPY – consolidation to precede fresh weakness
The pair is consolidating above five-week low at 111.88 on Monday after cracking key support at 111.90 (Fibo 38.2% of larger 107.31/114.73 ascend) but without break lower for now.
Bearish near-term bias favors further downside after…
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GBPUSD – bulls look for break above cloud and fresh extension higher
Cable extends advance for the fourth straight day on Monday and broke again into daily cloud (spanned between 1.3214 and 1.3261) after Friday’s surge deep into cloud stalled and closed for the day below cloud base.
Daily studies remain…
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EURUSD dipped in Asia but key supports stay intact
The Euro stands in red at the beginning of the week, pressured by political uncertainty in Germany.
The pair was down to one-week low at 1.1722 in Asia (dip was contained by 30 SMA) after opening on Monday below 55SMA (1.1789) which…
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USDCAD – Loonies falls after Canada CPI data disappointed traders on release along with forecast
The pair surged above 1.2800 barrier and hit new over one-week high at 1.2815 on Friday after Canada’s Oct inflation numbers came along with expectations (0.1% vs 0.1 f/c; Core 0.3% vs 0.3% f/c) disappointing many traders who expected…
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Copper – limited recovery to precede fresh bears
Bears showed strong indecision above daily cloud which twisted on Thursday and is widening.
Double long-legged Dojis, lest last two days confirm near-term scenario, with fresh recovery attempts on Friday, being so far limited by 55SMA…
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SPOT GOLD – recovery eyes $1290 for retest and could extend to daily cloud base at $1294
Spot Gold accelerates higher after descend following strong upside rejection found footstep at $1275 and closed above rising daily Tenkan-sen, keeping hopes of fresh upside alive.
Broadly lower dollar keeps the yellow metal on front foot on…
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WTI OIL – recovery needs close above 10SMA to resume
WTI oil price bounced on Friday following two-day consolidation above correction low at $54.80, posted after sharp fall on Tuesday.
Recovery was so far capped at $56.00 zone (Fibo 38.2% of $57.90/$54.80 pullback) with break here needed to…
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NZDUSD – fresh bearish acceleration hits lows last seen in June 2016
The Kiwi dollar accelerated strongly lower on Friday, extending steep bear-leg off 0.6979 into seventh straight day.
Fresh bears broke below key support at 0.6817 (former low of 27 Oct) and extended weakness to new lows, last traded in…
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