WTI OIL hit new 2 ½ year high but correction signals require caution
WTI oil hit new high at $62.19 on Thursday (the highest since mid-May 2015) in extension of Wednesday’s strong rally.
Oil prices remain supported by OPEC-led production cut, with additional boost coming from recent tensions in Iran, one of…
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AUDUSD hit new high but corrective action could be anticipated in the near term
The Aussie dollar stays firm and hit new high at 0.7856 (the highest since Oct 20) on Thursday, boosted by better than expected China Services PMI (Dec 53.9 vs 51.8 f/c).
Thursday’s action was so far shaped in long-legged Doji, signaling no…
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USDJPY – daily cloud top limits recovery, more resistances lay above
Recovery from strong support at 112.00 zone extends into the second day and spiked to 112.76, where daily cloud top limited rally for now.
Bullish hourly studies are supportive however, plethora of strong barriers, consisting of daily cloud…
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GBPUSD – bid tone above 1.3500; UK data in focus
Cable ticked higher in early European trading on Thursday after holding within tight range in Asia.
Wednesday’s strong close in red after four consecutive bullish days was negative signal, but dips were so far limited at 1.3493 (Fibo 38.2%…
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EURUSD trades in extended consolidation above 1.2000 but deeper pullback not ruled out
The Euro holds positive sentiment and bounced to 1.2038 on Thursday, after limited impact from encouraging Fed minutes, released late Wednesday.
Fed policymakers backed continued gradual rate hikes, in expectations for faster inflation from…
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COPPER may extend correction as descending indicators show further room at the downside
Copper future contract extends pullback from new recovery high at $3.3200 on Wednesday, holding negative near-term tone and signaling the beginning of year 2018 in red.
Correction after strong rally in past three weeks when metal’s price…
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Spot Gold – correction after strong three-week rally could be expected
Spot Gold price eases on Wednesday, taking a breather after strong rally in past over three weeks hit new high at $1321 (the highest since mid-September).
Recent strong rally was supported by weak dollar which came under pressure on…
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WTI OIL – bulls eye Fibo targets at $60.97 and $61.62
WTI oil remains steady on Wednesday following strong rally in past three days which peaked at $60.72 on Tuesday.
Oil prices were boosted by recent situation in Iran and remain well supported by global efforts to tighten oil market by…
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AUDUSD – bulls focus pivotal 0.7886/97 barriers after emerging above thick daily cloud
The Aussie dollar remains well supported and looks for extension strong rally in past three weeks.
Bulls pressure immediate barrier at 0.7859 (falling weekly 200SMA) which lies ahead of next pivotal resistances at 0.7886/0.7897 (Fibo 61.8%…
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USDJPY consolidates above strong 112 support; near-term bias remains bearish
The pair is consolidating above important support at 112.00 (15 Dec low) on Tuesday after steep bearish acceleration in past three days found footstep here.
Support is reinforced by Fibo 61.8% of 110.83/113.74 rally and 100SMA and may hold…
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