AUDUSD falls after RBA stayed unchanged
The Aussie dollar moved lower against its US counterpart after the Australian central bank left interest rates unchanged on Tuesday’s policy meeting.
The price moved lower after repeated upside rejection under 200SMA (0.7697) with formation…
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USDJPY – bullish outlook above 113.60
The pair bounces above 114.00 on Tuesday after Monday's strong upside rejection and close in red.
However, the downside remains well protected at 113.60 zone (multiple downside rejections / Fibo 61.8% of 112.95/114.73 upleg) and buying dips…
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GBPUSD eases after strong rally on Monday, weighed by soft UK data
Cable eases from session high at 1.3177 on Tuesday but remains tall following Monday’s strong acceleration higher.
Gains were repeatedly capped by 10SMA today / Monday, with the pair coming under pressure from downbeat UK data.
Mixed…
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EURUSD – downside remains at risk
The Euro remains in red on Tuesday and maintains downside risk for final attack at 1.1574 pivot (27 Oct low).
Fresh easing offsets signs of indecision ahead of key supports, following yesterday’s close in long-tailed Doji.
Negative daily…
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USDCAD –last week’s fall is taking a breather; daily Tenkan-sen caps recovery for now
The pair is slightly firmer on Monday, following strong fall in last three days of past week. Bearish acceleration found footstep at 1.2700 zone and closed above cracked Fibo 38.2% of 1.2432/1.2916 upleg at 1.2731.
Upside attempts today…
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EURUSD – downside under pressure after completion of bearish flag on daily chart
The Euro accelerated lower after recovery attempts on Monday were capped by falling 7SMA at 1.1624.
Fresh weakness returned below 1.1600 handle and pressuring key support at 1.1574 (27 Oct low), break of which would signal bearish…
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Copper – break out of triangle to signal n/t direction; techs remain bullishly aligned
Copper price rose above $3.17 on Monday, fully reversing losses on Friday, but upside remains limited, following repeated upside rejections above $3.17 handle.
Future contract for December delivery is holding within triangular…
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USDTRY takes a breather after Friday’s 2.35% advance; bulls eye all-time high at 3.9414
Turkish lira is taking a breather on Monday after falling sharply last Friday on solid US jobs data, when lira was down 2.35% for the day against the US dollar.
Additional relief for lira comes from Turkish central bank’s decision to…
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SPOT GOLD – limited correction before bears resume
Spot Gold price bounced on Monday after downside attempts stalled ahead of last Friday’s low at $1265.
Strong supports lay at $1260/$1263 zone (06 Oct low / 200SMA / 27 Oct n/t congestion low) which keep the downside protected for now,…
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US CRUDE OIL hits new over two-year high; correction may precede fresh upside
WTI oil maintains strong bullish tone on Monday and hit new high at $56.56 (the highest since July 2015), in extension of strong rally last Thu/Fri.
Oil prices remains strongly supported by expectations that oil producers will agree to…
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