The USDJPY accelerated lower on Friday after a triple daily Doji, adding to signals that short recovery from 133.62 (Dec 2 low, the lowest since Aug 16) might be over. Fresh bears hit 50% retracement of 133.62/137.85 upleg and eyeing key 200DMA (135.03) for retest, after attacks on Dec 2/5 failed to register a clear break lower. Rising negative…

Cable remains constructive and extends bounce from 200DMA on Friday, retracing over 61.8% of a shallow pullback from 1.2344 to 1.2106 so far. Bulls are underpinned by 10/200DMA golden-cross and strong positive momentum on daily chart, eyeing a multi-month high at 1.2344 (Dec 5), break of which would signal continuation larger uptrend from 1.0348…

The dollar index holds in red for the third day and threatening to fully retrace recovery leg from 104.05 (Dec 5 low, the lowest in 3 ½ months) after bulls were trapped above 200DMA. The dollar came under pressure on renewed concerns about slowdown of US economy, after jobless claims rose, adding to worries that the economy may slide into…

The Euro remains constructive above solid supports at 1.0448/52 (10DMA / Fibo 38.2% of 1.0222/1.0594 upleg) which contained pullback after larger bulls failed to break pivotal Fibo barrier at 1.0578 (Fibo 38.2% of larger 1.2266/0.9535 downtrend). Daily studies remain in bullish setup and support the action, however, bullish weekly close with…

WTI oil price is consolidating above new 2022 low ($71.74) hit on Wednesday, following sharp four-day fall. Growing concerns that economic slowdown would further weaken demand and increased production in the US, continue to pressure oil prices, with the latest break of previous low at $73.57 (Nov 28) signaling bearish continuation of the downtrend…

The dollar index slipped on Wednesday, reversing bounce of past two days, after it repeatedly failed to clear strong resistance, provided by 200DMA (105.57). Overall bearish daily studies maintain downside pressure, with stall of short recovery, pointing to likely scenario of limited correction before larger bears resume. Although fundamentals…

The USDJPY advances for the third consecutive day and cracks initial barrier at 137.94 (Fibo 23.6% of 151.94/133.62 descend). The dollar received fresh boost from renewed warnings from economists that the US economy is heading into recession, despite recent encouraging signals from solid US economic data which revived hopes that the largest world…

Cable is standing at the back foot on Tuesday, following a bearish close on Monday after bulls failed to hold gains above pivotal barrier at 1.2293 (former top of Aug 1), but dips remain limited and facing headwinds from 200DMA (1.2135), reinforced by approaching rising 10DMA, in attempt to form a Golden-cross. The pullback is so far shallow,…