The Euro extends advance and broke above 1.10 barrier on Friday, following strong rally on Thursday (the pair was up over 1% in the biggest one-day gains since 5 Aug). Dovish shift from Fed that raised expectations for rate cut, deflated dollar and gave fresh boost to the single currency. Today’s break of psychological 1.10 barrier (also 50%…

The Euro extends recovery on Thursday and pressuring pivotal barriers at 1.0954 (falling 30DMA / Fibo 38.2% of 1.1239/1.0778), after taking out initial barrier at 1.0904 (20DMA). Fresh bullish acceleration emerged after Wednesday’s long-legged Doji showed strong indecision, signaling further advance as traders collected profits from larger…

The WTI oil’s near-term action remains firmly in red and extends steep fall into fourth straight day. Today’s break below psychological $50 level and former low at $49.41 (4 Feb) pushed oil price to the lowest levels since early January 2019. Growing fears of coronavirus pandemic and its strong negative impact on global oil demand keep oil price…

The pair edged higher in early Wednesday’s trading, in consolidation after steep fall in past three days as dollar was sold on rising expectations of Fed rate cut. Growing fears of coronavirus pandemic after signs of rising numbers of new virus cases are expected boost risk aversion and keep the pair under pressure. Tuesday’s action generated…

Spot gold price dipped on Tuesday after steep, week-long rally hit new 7-year high but showed initial signs of stall on Monday’s daily candle with very long upper shadow, formed after strong upside rejection on approach to psychological $1700 barrier. Pullback faced headwinds from pivotal support at $1635 (Fibo 38.2% $1547/$1689 upleg / rising…

Recovery attempts from new 11-year low (0.6583) were so far mild, as today’s action is back to red on fading signals of renewed risk appetite. Fresh optimism on comments of possible vaccine for coronavirus and brief easing of US dollar were so far short-lived and traders return to risk-off mode. Technical studies on daily chart are negatively…

The pair extends weakness from double rejection at 112.22/18 into third day and retests Fibo support at 110.39 (23.6% of 104.44/112.40 ascend) which contained Monday’s fall. Dovish steer from Fed in rising expectations that the US central bank may cut interest rates this year increased pressure on greenback. Fresh bears so far retraced 76.4% of…

Cable accelerated higher in late Asian/early European trading on Tuesday as dollar softened on rising expectations that the Fed may cut interest rates this year to reduce negative impact from coronavirus epidemic on the economy. Fresh advance broke above initial barriers provided by 100 and 10DMA’s, cracked 20DMA (1.2986) and pressures…