Cable returns above 1.40 mark and hits new 34-month high at 1.4052 after brief dip to 1.3980 in early European trading on Monday. Bulls attempt to sustain break above psychological 1.40 barrier after registering a marginal close above last Friday (the first close above 1.40 since mid-Apr 2018). Pound is supported by UK economic recovery hopes and…

Cable fell to fresh intra-week low (1.3840) in early US trading on Wednesday, as upbeat US retail sales revived positive sentiment about the US economic recovery and lifted dollar. Fresh weakness after Tuesday’s Doji, which signaled indecision, is creating an evening doji star reversal pattern on daily chart and warning of deeper pullback. Dips…

The USDTRY fell to the lowest in 6 ½ months on Tuesday, following break and close below psychological 7.00 support on Monday. The Turkish lira remains very attractive to investors and further acceleration could be expected. The downtrend from new record high (8.5816) cracked strong supports at 7.00/6.88 zone (psychological / top of rising weekly…

WTI oil broke above psychological $ 60 barrier on Monday, hitting levels last traded in December 2019. Recent tightening supplies by OPEC group and its allies, boosted expectations of full revival of global oil demand and rebalancing world oil market, while US President Biden’s efforts to push through his first major legislative in approving…

Cable rose further on Monday, probing above 1.39 mark and hitting new highest since April 2018. Strong bullish sentiment was boosted by the news that UK target of 15 million vaccinated that improves the outlook for recovery of British economy, devastated by coronavirus pandemic. Bulls do not show signs of fatigue and keep near-term focus at the…

The Silver Institute, a global organization that draws its membership from across the silver industry, said it expects global demand for silver to rise to 1.025 billion ounces in 2021, its highest in eight years. Increased purchases from investors and the industry as coronavirus pandemic prompted investors to stockpile silver, traditionally seen…

Cable is consolidating under new 34-month high (1.3866) posted on Wednesday after soft US CPI data deflated dollar and boost riskier pound. Fresh bulls that emerged from Feb 2 strong downside rejection and bear-trap formation, remain in play but are likely to pause. Holiday-lowered volumes and headwinds that bulls face from solid offers at 1.3900…

The Euro remains constructive in early Thursday’s trading after previous day’s action ended in Doji candle with long upper shadow, which signals indecision and that the rally of past three days might be running out of steam. Lower volumes on major Asian markets being shut for holidays, keep the pair within a narrow range. Conflicting studies do…