The Euro remains in red and consolidating above new seven-week low on Friday, after being hit by dovish ECB. Thursday’s 0.3% fall resulted in eventual break of key supports at 1.1079/70 (Fibo 61.8% of 1.0981/1.1239 / daily cloud base / trendline support) that ended multi-day congestion and generated strong bearish signal. Fresh extension lower…

US CRUDE OIL WTI oil price slumped to eleven-week low on Thursday, extending steep fall into fourth straight day, after coming under increased pressure on rising concerns that spreading virus in China may have stronger impact on demand. Fears that oil prices might be shocked if epidemic develops, accompanied sufficient supply and rising crude…

The Euro refrained from stronger reaction on comments from ECB President Christine Lagarde, with spike above 1.11 handle on remark pointing to moderate increase in inflation, being short-lived. Lagarde’s comments on press conference were generally balanced as she pointed to moderate increase in underlying inflation and moderate growth of the…

The Swiss franc regained traction and strengthened on Thursday after corrective action from 0.9612 (16 Jan low, the lowest since Sep 2018) was strongly rejected on Wednesday at 0.9728 (falling daily Kijun-sen) that faded hopes in the market about SNB’s intervention. The Swiss central bank’s chairman Jordan said that the franc is highly valued and…

Cable eases after three-day rally which repeatedly failed under pivotal Fibo barrier at 1.3158 (61.8% of 1.3284/1.2954). Wednesday’s 0.7% advance marks the biggest one-day rally since 31 Dec, fueled by better than expected data (CBI index rose the highest in nearly six-years, with current easing seen as corrective action on overbought…

The Euro is holding in red in European session on Thursday and pressuring again key Fibo support at 1.1079 (61.8% of 1.0981/1.1239) which continues to limit the downside. Near-term action remains in directionless mode for the fourth consecutive day and entrenched within narrow range around 1.11 handle, awaiting stronger direction signal. Strong…

The Australian dollar jumped 0.4% in Asia on upbeat jobs data which showed unemployment falling to the lowest in one year and employment figure doubled estimation. Strong labor sector numbers improved the sentiment and reduced significantly expectations of RBA rate cut next month. Fresh advance is about to complete Doji reversal pattern on daily…

Strong three-day rally (the dollar advanced 1.3% against lira) is pausing under new two-week high. Overbought daily stochastic and rising bearish momentum signal that fresh bulls are entering consolidative/corrective phase. Broken 20DMA offers initial support at 5.9188, but deeper pullback cannot be ruled out. Next strong level lays at 5.9030…