Technical Outlook

GBPJPY rises to the highest in over five years

The GBPJPY was among the top performers in early Friday’s trading, as cross accelerated higher and hit the highest level since June 2016. Fresh risk appetite pushed the dollar further down and lifted sterling against its major counterparts while yen was sold across the board. The pair was up 0.66% since opening in Asia, extending steep ascend…
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Recovery lacks strength to clear pivotal barriers

The Euro holds for the second day in a corrective mode off new nearly 15-month low at 1.1524, where weekly cloud base contained larger downtrend, helped by weaker dollar. Wednesday’s long bullish candle (the pair was up 0.53% for the day) formed bullish outside day, which is expected to underpin the action, but recovery showed signs of stall on…
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Weaker dollar and rising inflation lift gold

Spot gold rose sharply on Wednesday (up 1.82% for the day, the second biggest daily advance in 2021) lifted by weaker dollar on further rise in US inflation and unclear situation regarding the start of tapering stimulus, which markets widely expected to begin in Nov/Dec. Fresh advance broke through 200DMA ($1796) and hit one-month high, pressuring…
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