Recovery leg extends into third straight day and accelerated on Monday (up 2.2% until mid-European session), with fresh bullish signals generated on lift above bear-channel upper boundary (90700) and Fibo 38.2% of 107502/80514 descend (90823). Improving technical picture on daily chart underpins recovery which faces headwinds from falling 30DMA…

AUDUSD holds in steep uptrend for the eleventh consecutive day and on track for the second straight weekly gain, mainly driven by weaker US dollar on growing expectations of Fed rate cut, but also holding firm tone against other major currencies. The pair hit new 2 ½ month high on Friday and cracked strong barriers at 0.6640 (200WMA / Fibo 76.4%…

Cable hit fresh five-week high on Wednesday after being initially boosted by better than expected UK Nov services PMI, while unexpected and strong drop in US private payrolls (ADP report) added to expectations of Fed December rate cut additionally inflated sterling. The pair was up around 0.8%, on track for the biggest daily gain since late…

The Euro keeps firm tone on Tuesday after near-term recovery spiked to two-week high (1.1652) but subsequent quick pullback pointed to strong upside rejection (daily candle with long upper shadow). Recovery stalled just under the base of daily Ichimoku cloud (1.1666) and left a bull-trap above 100DMA (1.1642) although near-term action still…

The dollar index came under increased pressure on Monday and fell to two-week low, following renewed rise in bets for Fed rate cut in the last policy meeting this year, as markets await releases of key economic indicators from the US labor sector, which could contribute to such decision. The report released today showed that US manufacturing…

Gold continues to trend higher and hit the highest in six weeks on Monday, supported by growing expectations for Fed rate cut in December. Weak US economic data and recent dovish comments from Fed policymakers fuelled fresh rise in bets for further policy easing, while market participants also expect successor of Fed Chair Jerome Powell to hold…

BTCUSD fell sharply in early trading on Monday (around 6% until the mid-European session) retracing over 50% of 80514/93052 upleg and signaling that corrective phase from 8-month low (80514) might be over. Larger bears regained control after recovery attempts were repeatedly capped by falling 20DMA and weekly cloud top, with break of…

Silver moves deeper into uncharted territory and hit new record high ($57.84) in early Monday trading, in extension of Friday’s strong acceleration higher (up 5.6%, the biggest daily gain in nearly 8 months) which broke and close above previous all-time high at $54.64. Weaker dollar on fast growing bets of Fed December rate cut and expectations…