AUDUSD – bears are holding in extending consolidation
The Australian dollar is higher on Wednesday, bouncing from dangerous zone at 0.7625 (27 Oct low), which was retested on Tuesday’s strong fall.
Weaker US dollar offered relief for the Aussie, with larger downtrend from 0.8124 high taking a…
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USDJPY – no clear near-term direction yet
The pair remains directionless within 113.53/114.45 range as upside attempts off higher base at 113.65 (lows of past three days) repeatedly failed to sustain break above 114.00 barrier and eventually close above 114.33 pivot (Fibo 61.8% of…
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GBPUSD – fresh weakness faces strong supports at 1.3100 zone
Cable moved lower on Wednesday after advance in past two days was capped by 10SMA at 1.3175. Hanging Man candlestick was left on Tuesday, signaling that bulls from 1.3038 (03 Nov low) might be running out of steam.
Plethora of barriers…
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EURUSD – weaker dollar boost the Euro but upside action was so far limited, keeping 1.1500 target in…
The Euro returned to 1.1600 zone in early Wednesday’s trading but upside attempts off Tuesday’s fresh low at 1.1553 (the lowest since 20 July) were so far limited.
The single currency was boosted by rumors about delay of US tax reforms…
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Copper eases below triangle on stronger dollar
Copper was sharply lower on Tuesday after rally on Monday was repeatedly capped by bear-trendline which marks the upper boundary of the triangle, formed on daily chart.
Fresh weakness, triggered by stronger dollar, offset positive signal on…
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USDCAD – fresh rally forms higher base at 1.2700
The pair bounced on Tuesday after four-day descend from 1.2916 found solid support at 1.2700.
Fresh strength of the US dollar sidelines immediate downside risk, seen on break below pivotal supports at 1.2670 (20SMA / daily Kijun-sen).…
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EURGBP – bears eye key technical supports
The cross remains in red for the third straight day and extends weakness below 0.8800 handle on Tuesday.
Pullback from 0.8938/34 peaks, where strong 1.75% rally last Thursday was capped by daily cloud base, so far retraced over 61.8% of…
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USDTRY bounces but risk of deeper pullback persists
The USDTRY pair recovers on Tuesday after losing nearly 1.5% on Monday. Pullback from Fri/Mon highs at 3.8890 was contained by rising daily Tenkan-sen (3.8202), keeping overall bullish structure intact for fresh upside action which could…
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SPOT GOLD eases after 20 SMA repeatedly capped upside attempts
Spot Gold price eases on Tuesday on profit taking after nearly 1% rally on Monday on safe-haven buying.
Upside attempts were repeatedly capped by 20SMA (currently at $1281) which marks strong barrier as previous probes above it were…
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US CRUDE OIL – bulls are pausing but focus remains at the upside
Bulls are taking a breather on Tuesday after hitting fresh, marginally higher high at $57.67 (the highest since early July 2015).
The price action is holding within narrow range on Tuesday, following strong rally in past three days when oil…
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