The dollar opened remains at the back foot against the basket of currencies and trading near recent lows at 92.17/10 (18/9 Nov), following Monday’s gap-lower opening. Optimism about Covid-19 vaccine keeps the risk sentiment and deflates the greenback, but surging number of new virus cases and restrictive measures limit losses for now. Bearish…

WTI oil price jumps above $42 on Friday, focusing November’s peak at $43.03. Overall sentiment remains positive as the contract is on track for the third consecutive weekly gain, although the upside attempts remain limited on oversupply, demand concerns over surge in coronavirus cases and renewed lockdowns. On the other side, hopes for…

The Euro dipped to three-day low on Thursday, seeing increased risk of deeper pullback after bulls showed strong signals of stall by leaving two consecutive inverted hammer candles (Tue/Wed). Daily RSI turned south, warning of loss of momentum and fresh weakness cracked 10DMA (1.1831). Fresh bears faced headwinds from strong support provided by…

The Australian dollar drops to four-day low on Thursday after bulls repeatedly failed to clearly break above 0.73 barrier, with fresh strength of the US dollar on growing worries on rise of coronavirus cases and fading optimism about the vaccine, although clouded by uncertainty over new stimulus package that may prompt Fed to further ease policy in…

Cable dips to two-day low (1.3205) in early Thursday, deflated by newspaper report that Europe’s leaders are set to demand European Commission to publish plans for no-deal Brexit, as fears of negotiations stall rise. European leaders aim to prepare people and businesses for the worst scenario which would be another shock for financial markets,…

Bulls started to lose steam on approach to 1.1900 barrier as the uptrend from 1.1745 struggles at 1.1878 Fibo level (76.4% of 1.1919/1.1745) for the second day. Tuesday’s inverted hammer candle gives initial warning of stall, as candles of last two sessions both have long upper shadows and add to negative signals. Momentum on daily chart is…

Cable rises to new one-week high on Wednesday, as better than expected UK CPI figures in October added to pair’s positive near-term tone. Fresh advance from 1.3106/09 higher base (12/13 Nov) extends into fourth day and pressures key obstacles at 1.3291/1.3311 (Fibo 76.4% of 1.3482/1.2675 / 11 Nov high). Break here to signal continuation of larger…

Bear-leg from 105.67 peak (11 Nov) extends into fifth straight day and broke through significant supports at 104.13/00 (Fibo 61.8% of 103.17/105.67 round-figure) in early Wednesday’s trading. The dollar remains under strong pressure on fresh wave of risk appetite, inflated by hopes for coronavirus vaccine, but tempered by fears of further…