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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USDJPY – buying dips for eventual break higher remains favored
The pair spiked to fresh nearly eight-month high at 114.73 in early Monday’s trading, but probes above previous peaks at 114.36/49 (10 May / 11 July) were so far short-lived, adding to strong indecision signals from last Thu/Fri long-legged…
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GBPUSD – thick hourly cloud marks strong obstacle for recovery rally
Cable is in recovery mode on Monday and probes above 1.3100 barrier, after last week’s post-BoE’s fall stalled ahead of previous low of 06 Oct at 1.3026.
Recovery attempts face strong barrier from thick hourly cloud (spanned between 1.3113…
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EURUSD – downside remains at risk for extension below 1.1574 pivot, while falling 10SMA caps
The Euro stands at the back foot on Monday and pressuring 1.1600 support, which guards post ECB’s multi-month low at 1.1574, posted on 27 Sep.
Last Friday’s close in red which formed bearish Outside Day pattern, weighs on near-term action…
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