Gold extends recovery towards $2000 barrier
Gold rose to ten-day high on Friday and almost fully retraced last week’s 2.7% drop, driven by growing demand on hopes that the Fed’s tightening cycle is close to its end.
Fresh extension on Friday cracked Fibo barrier at $1991 (76.4% of…
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WTI OIL – consolidation after 5.3% fall on Thursday likely to precede fresh push lower
WTI oil is holding within a narrow consolidation in early Friday after falling 5.3% previous day (the biggest one-day drop since Oct 4), being under increased pressure from growing demand concerns and strong supply.
Short-term price…
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EURUSD – narrow consolidation and bullish bias above broken 200DMA
EURUSD is holding within a narrow consolidation under new 2 ½ month high for the second day, after the pair surged on Tuesday on lower than expected US inflation.
Limited dips point to still strong bids and suggests that bulls can resume…
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Gold remains constructive though still looking for clearer direction signal
Gold regained traction on Thursday after three-day recovery was strongly rejected on Wednesday, remaining biased higher, although still capped under pivotal barriers at $1970/73 (50% retracement of $2009/$1931 / 20DMA).
Wednesday’s…
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WTI OIL – worries about China demand and rise in US crude inventories keep bears in play
WTI oil price holds in red for the third straight day and pressuring pivotal Fibo support at $75.61 (61.8% retracement of $63.63/$95.00 rally) which was dented last week, but with triple failure to register close below support and generate…
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EURGBP hits new multi-month highs, on track for eventual clear break of pivotal Fibo barrier
EURGBP holds firm bullish tone and extends fresh bullish acceleration into second consecutive day, trading at the highest levels since late April on Thursday morning.
The cross gained pace after lower than expected UK inflation in…
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GBPUSD eases from new multi-week high, deflated by economic data
Cable pulled back from new two-month high, posted after Thursday’s nearly 1.9% advance (the biggest daily gain in one year, deflated by stronger than expected drop in UK inflation last month and better than expected US retail sales, which…
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AUDUSD – bulls hold grip for break through key barriers
AUDUSD holds firm tone on Wednesday and attempts to break through key barriers at 0.6508/22 zone (Fibo 38.2% of 0.6894/0.6270 / daily cloud top / ceiling of a multi-week range), in extension of Tuesday’s 2% rally.
Aussie dollar benefited…
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Euro is consolidating after the biggest one-day advance in a year
EURUSD edged lower in European trading on Wednesday as traders collected some profits after Tuesday’s 1.7% advance (the biggest one-day gain in one year), sparked by bigger than expected drop in US inflation in October, which deflated…
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Lower than expected US inflation in October adds to hopes that tightening cycle is at the end
Inflation in the United States cooled more than expected in October, providing relief to the Federal Reserve, as the narrative starts to turn towards an end of tightening cycle and introducing talks about rate cuts, expected to start…
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