USDTRY – signals of reversal are building
The USDTRY bulls show strong hesitation under new 11-month high at 3.9007 as price action remains shaped in tight daily Doji candle for the second day.
Recent repeated upside failures suggest bulls may be running out of steam ahead of…
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EURGBP – at the back foot after rallies were repeatedly capped
The cross is in red on Friday and pressures initial support at 0.8828 (10SMA) after upside attempts were repeatedly capped by descending 20SMA (currently at 0.8870).
Pound was boosted by overall solid UK data today and cross may extend…
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GBPJPY is stuck between bear-trendline and daily cloud top
The cross is holding within tight rage on Friday with downside remaining at risk after Thursday’s action ended in long-legged Doji.
Top of daily cloud keeps the downside protected for now, despite several dips into cloud.
Upside attempts…
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WTI OIL – several factors warn of pullback
WTI oil price firmed above $57.00 on Friday, extending recovery from Wednesday’s low at $56.40, but still holding well below multi-month high at $57.90.
Overall picture remains bullish and supported by strong signs of oil market tightening…
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AUDUSD – downside at risk as 200SMA caps
The Australian dollar holds in directionless mode after Thursday’s action ended in long-legged Doji and upside attempts being repeatedly capped by 200SMA (0.7697) which limited action of this week.
Overall picture remains negative and keeps…
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USDJPY bounces from Thursday’s low but risk remains on downside
The pair is recovery mode on Friday and reversed some of previous day’s losses, but near-term action remains biased lower.
Red daily candles in past two days weigh on near term action, as the pair is stuck around 20SMA (113.48) which was…
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EURUSD in tight range as Fibo barrier at 1.1661 caps recovery
The Euro is holding within tight range (1.1622/54) on Friday, following strong advance the previous day.
Close above 10SMA (1.1624) which now acts as initial support, was bullish signal, but recovery is for now limited under pivotal barrier…
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GBPUSD trades in extended directionless mode; waiting for direction signals
Cable remains in holding mode on Friday, entrenched between 100SMA (1.3104) and 10SMA (1.3160).
Bearish setup of 10 / 20 / 30 SMA’s and daily cloud above the price weigh on near-term bias, while neutral momentum studies and converged daily…
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Dollar Index trades in extended consolidation; US tax reforms plan seen as catalyst for fresh s/t…
The dollar index stands at the back foot on Thursday and probes below 10SMA (currently at $94.63) which turned into sideways mode after tracking the ascend of past two weeks.
Firm break below 10SMA pivot would trigger further easing and…
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Copper – probe below key supports signals bearish continuation
Copper resumed bear-leg from $3.1715 lower top after bears took a breather on Wednesday.
Fresh weakness probed below $3.0715/$3.0650 (lows of 27 Oct and 08 Nov) and dented 55SMA which reinforces supports.
Close below here would generate…
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