WTI OIL bounces back above daily cloud but gains were so far limited
WTI oil trades higher on Monday, bouncing above daily cloud which was penetrated on Friday, in extension of last week's steep fall.
Oil price regained ground as global stocks showed signs of stabilizing, following last week's…
Read More...
Read More...
AUDUSD – initial attempt at key daily cloud top / 200SMA supports failed, but limited bounce…
The Australian dollar trades higher in early Monday's trading after bears stalled above key 200SMA daily cloud top supports.
Subsequent bounce resulted in bullish close on Friday, sidelining immediate downside risk.
Return and close above…
Read More...
Read More...
USDJPY – Friday’s long-legged Doji warns of strong indecision at key 108.28/00 supports;…
The pair stands at the back foot at the beginning of the week with limited recovery attempts in Asia. Friday's long-legged Doji signaled strong indecision at key support at 108.28 (26 Jan low) cracked on Friday's brief dip to 108.04.
Daily…
Read More...
Read More...
GBPUSD near-term bears found footstep but recovery was so far limited
Bear-leg off 1.4277 (02 Feb lower top) found footstep at 1.3796 (Fibo 61.8% of 1.3457/1.4344 upleg) after Friday's probe below was short-lived, but recovery attempts were so far limited.
Near-term direction is not clear as daily studies…
Read More...
Read More...
EURUSD – Doji reversal pattern is forming on daily chart but stronger upside needed for…
The Euro stands at the front foot on Monday and ticked above initial barrier at 1.2280 (Fibo 23.6% of 1.2522/1.2205 downleg.
Initial signal of basing is developing on daily chart after near-term bears off 1.2522 repeatedly failed to…
Read More...
Read More...
USDCAD on roller-coaster after Canada’s jobs data, but bulls show signs of stall
The Canadian dollar fell sharply against its US counterpart on Friday, after release of downbeat Canada's jobs data.
Employment figure showed strong fall in January (-88K vs forecasted -2K and previous month's -2.4K); part time employment…
Read More...
Read More...
Pound falls below 1.39, delated by downbeat UK data
Cable fell below 1.3900 handle in Europe, deflated by downbeat trade balance / IP data. Trade deficit widened to 13.5 billion pounds in Dec from forecasted 11.5 billion gap, while industrial production fell by 1.3% in Dec, falling below…
Read More...
Read More...
SPOT GOLD – bears to resume after a breather; thick hourly cloud weighs heavily
Spot Gold fell to European session low at $1313, coming under renewed pressure after recovery attempts were repeatedly rejected at $1322 (Thu/Fri).
Yesterday's long-tailed Doji signaled a breather in broader downtrend, with fresh easing…
Read More...
Read More...
WTI OIL in narrow consolidation; broader bears remain intact and threaten for attack at rising daily…
WTI oil is holding within narrow consolidation above fresh five-week low at $60.26 on Friday, after suffering heavy losses during the week.
Oil remains under strong pressure on increased US oil production, with fresh pressure coming from…
Read More...
Read More...
AUDUSD – broader bears may take a breather ahead of key 0.7850/40 support zone
The Australian dollar bounced from new 2018 low at 0.7758 posted on Friday, signaling hesitation ahead of strong supports at 0.7750/40 (200SMA / Fibo 61.8% of 0.7500/0.8135 / rising daily cloud top).
The pair is moving in steep two-week…
Read More...
Read More...