USDJPY – strong signs of correction stall
The pair holds in red in early Monday’s trading and signaling increasing downside risk after last week’s three-day recovery rally failed to clear key barriers at 109.26/32 (double-Fibonacci resistances, 61.8% of 111.48/108.28 and 38.2% of…
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EURUSD – bullish bias while above 10SMA, but risk of deeper pullback exists
The Euro is trading within narrow range in early Monday, but still above rising 10SMA (currently at 1.2413) which tracks the ascend and marks initial support.
Friday’s close in red after repeated rejection above 1.25 barrier and weekly…
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EURUSD – solid EU GDP data supported bounce above 1.24
The Euro bounces above 1.24 handle after failure to break below Monday's low at 1.2336, underpinned by rising 10SMA (1.2322) which stayed intact.
Fresh advance cracked barrier at 1.2412 (Fibo 38.2% of 1.2537/1.2334 pullback) and pressuring…
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AUDUSD extended pullback stays so far above pivotal supports at 0.8033/00
The Aussie dipped to 0.8042 on Tuesday, in extension of pullback from 0.8135 peak but stayed above rising 10SMA (0.8033) which marks the first pivot.
Subsequent bounce returned into thick hourly cloud (spanned between 0.8070 and 0.8098),…
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USDJPY – bearish outlook below weekly cloud base
The pair moved lower in early European trading after recovery attempts overnight were repeatedly capped at 109.20 (Monday's high).
Repeated close below weekly cloud base (109.10) maintains negative tone and adds to negative near-term…
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EURUSD stands at the back foot ahead of EU data
The Euro remains in red on Tuesday and probes again through cracked daily Tenkan-sen (1.2351), looking for retest of Monday's spike low at 1.2336 and attack at rising 10SMA at 1.2316.
Studies on lower timeframes are in negative setup and…
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USDTRY – recovery rally extends but faces strong headwinds from thick daily cloud base
The USDTRY pair rallied on Monday on broader dollar's recovery, retracing so 50% of recent 3.8458/3.7153 bear-leg.
Recovery attempts were so far capped at 3.7868 and unable to clearly break pivotal barrier at 3.7800 (converged daily…
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COPPER – repeated recovery rejections keeps the downside vulnerable
Copper price is struggling to hold recovery as repeated upside rejection occurred today ($3.1975) after Friday' long-legged Doji signaled that weakness from last week's high at $3.2565 might be running out of steam.
Long bullish candle that…
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WTI OIL price eases on rising US output fears; overall picture is bullish
WTI oil price eased below $66 on Monday after hitting fresh three-year high at $66.64 last week and renewed attempts higher repeatedly stalled under new high.
Oli price came under pressure on fears that soaring US production could undermine…
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USDJPY – broken weekly cloud base caps consolidation for now
The pair is consolidating above last Friday's fresh low at 108.28 on Monday, with the action being so far capped by broken supports at 109.06/10 (Fibo 76.4% / weekly cloud base) now acting as solid resistances.
Friday's close below these…
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