The US dollar regained traction on Friday, remaining on track for its best week since early April despite Thursday’s pause. The Dollar Index, which measures the performance of the dollar against the basket of six major world currencies, rose to a two-month high this week, signaling a correction of the March/August 10.3%  fall. Fresh risk…

The Turkish lira rose strongly against the dollar, gaining 20 big figures in two days after Turkish central bank unexpectedly hiked interest rates by 2% to 10.25% on Thursday. The CBRT surprised by tightening policy for the first time in two years in attempts to push lira from its record lows as well as to fight rising inflation. The lira was in…

Cable extends recovery from Wednesday’s two-month low (1.2675) after bears got trapped under 200DMA (1.2719) and ahead pivotal Fibo support at 1.2690 (38.2% of 1.1409/1.3482 rally). Fresh advance also points to false break below the base of rising daily cloud (1.2759), with signal to be confirmed on weekly close within the cloud. Rising momentum,…

Bears are taking a breather after three-day fall started to lose traction in the middle of thick rising daily cloud. Thursday’s action ended in green Doji candle after three long bearish daily candles, with rising momentum and stochastic turning north in oversold territory, adding to signals of adjustment. Profit-taking at the end of the week…

The dollar extends rally into fifth straight day and hits new two-month high on Thursday. Higher than expected US jobless claims added to concerns about the economic recovery already dented by stalled talks about the new package of fiscal support and rising number of coronavirus infections. Bulls cracked double-Fibo resistance at 94.57 (Fibo 23.6%…

Cable is consolidating within narrow range above Wednesday’s nine week low (1.2675) after bears managed to close below the base of thick daily cloud but failed to register close below next pivotal support at 1.2690 (Fibo 38.2% of 1.1409/1.3482). Wednesday’s long-legged Doji candle points to indecision, as bears face headwinds from key support zone…

Bounce from new nearly six-month low at 104.00 (following false break below key support at 104.18), shows signs of stall. Three-day rally was repeatedly capped by daily Kijun-sen (105.47), with fresh weakness in early Thursday’s trading, generating initial signals of reversal. Daily moving averages are in negative setup and momentum remains…

The Australian dollar extends steep fall into fourth straight day (down 2.9% from last Friday’s 0.7334 high) and falls to 1 ½ - month low on Wednesday. Strong risk aversion continues to deflate Aussie, with additional negative signals seen from expectations that the RBA will cut interest rate from 0.25% to 0.1% in 6 Oct policy meeting. Today’s…