The pair bounced strongly on Friday (up 1.5% for the day so far) after bears faced headwinds and were rejected at 104 zone. Oversold studies and month-end profit-taking contributed to fresh rally (the pair is heading for the first bullish daily close after six straight days in red. Fresh advance cracked the lower boundary of pivotal barriers at…

Bears are pausing above new 26-month low on Friday, but dollar index remains in a free fall, as Fed’s pledge to continue to support the economy, hit by strong rise in new coronavirus infections, did little to reduce bears’ pace. The dollar is about to complete the sixth straight week in red and heading towards the biggest monthly fall in a decade.…

Cable is establishing above 1.31 handle on Friday and eyes targets at 1.3212/43 (2020 high / Fibo 61.8% of 1.4376/1.1409) after bulls easily broke strong barriers at 1.3000/17 (psychological / Fibo 76.4% of 1.3514/1.1409) on Thursday. Strong bullish sentiment on weak dollar (charts signal further weakness of the greenback in August) and positive…

The Euro cracked 1.1900 barrier in early Friday’s trading and hit the highest in over two years after Thursday’s close above key Fibo barrier at 1.1822 (61.8% of 1.2555/1.0635) generated strong bullish signal. Bulls turned focus to psychological 1.20 level, break of which would spark further advance and expose next target at 1.2102 (Fibo 76.4%).…

WTI oil price slipped on Thursday, despite strong and unexpected fall in crude inventories, as rising coronavirus cases weigh heavily on global demand outlook. Disappointing economic data point to bigger than expected contraction of global economies that adds to negative signals. Fresh weakness cracked 30DMA ($40.34) and eyes psychological $40…

Cable is consolidating under new nearly five-month high at 1.3013, posted on Wednesday’s initial probe through psychological 1.30 barrier. Today’s action so far showed shallow dip, keeping immediate focus at 1.3017 Fibo barrier (76.4% of 1.3514/1.1409), but overbought daily techs continue to warn. Bids are seen at 1.2915/1.2887 (rising 5DMA /…

The Euro showed minor reaction on disappointing EU GDP data (Q2 -10.1% from -2% in Q2 and below 9% f/c) but remains at the back foot on Thursday. Fed’s comments slightly dented risk sentiment and prompted investors to book some profits after the pair briefly probed above 1.1800 level and hit new nearly two-year high. Dips on profit-taking and…

The Australian dollar pulls back from new 15-month high (0.7196) as traders took profits after bulls failed to break 0.7200 round-figure barrier. Stronger than expected drop in Australia’s export and imports in Q2 and record coronavirus cases contributed to fresh weakness. Daily stochastic and RSI reversed from overbought territory and head…