WTI oil maintains positive tone and hit new marginally higher recovery high at $35.87 on Monday, after ending last week, the part of five-week steep recovery, with 6.2% gains. Two key factors influence oil price these days. The first is fresh escalation of US /China tensions that kept traders cautious on possible China’s retaliation on US moves…

The Australian dollar maintains bullish tone and extended rally to new 4-month high at 0.6774 on Monday, inflated by President Trump’s mild response on Friday over Hong Kong case, but eased  from new high on news that China paused some purchases of some agricultural goods from the US that soured a bit strong risk mode. Daily studies remain in full…

Cable maintain bullish tone on Monday and hit three-week at 1.2425 in European trading but pulled back to 1.2380 zone after rally was capped by Fibo barrier at 1.2425 (61.8% of 1.2642/1.2074). Weak dollar and UK’s manufacturing PMI in line with expectations (40.7) and well above previous month’s 32.6 figure, adds to positive tone. Bullish setup…

The pair eases from new marginally higher recovery high at 1.1154 in European trading on Monday as bulls face headwinds from key Fibo barrier at 1.1166 (61.8% of 1.1494/1.0635). We already warned that bulls may slow on approach to 1.1166 on overbought  daily stochastic and fading bullish momentum, with consolidation expected to hold above daily…

The USDTRY advances for the third straight day after pullback from new record high was contained by rising thick daily cloud. Recovery broke above initial barriers at 6.80 zone (converged 10/55DMA’s) and 6.8246 (Fibo 23.6% of 7.2683/6.6875), generating initial signal that correction might be over. Lira was additionally pressured by Turkey’s GDP…

The Euro broke above 1.11 barrier, in extension of strong four-day rally and hit new two-month high at 1.1138 on Friday. Weak dollar and fresh optimism that post-pandemic recovery will pick up, continue to boost risk mode and push single currency higher. Mixed data from Eurozone members (French consumer spending fell well below expectations but…

The dollar was sold in Asia / early Europe on Friday ahead of President Trump’s speech on China, due later today, as rising tensions over Hong Kong and fears of US reaction prompted investors into safe haven yen. The pair was down nearly 70 pips, finding footstep at 107 zone (daily Kijun-sen / 50% of 105.98/108.08 upleg), but generated initial…

The dollar index extends weakness to new two-month low on Thursday as markets hold in risk-on mode as less bad than feared US jobless claims and durable goods data partially offset negative impact from GDP data which showed that suggest that the US economy contracted slightly more than expected in the first quarter. This suggests that the worst of…