USDTRY: Negative Fundamentals Keep Turkish Lira on Course for Further Fall
The Turkish lira maintains overall weak tone and holding within multi-week consolidation, not far from new all-time low, posted in November last year. Rising inflation and central bank’s inability to adopt conventional measures to tackle the problem, as governors of...
EURJPY Hovers Below 31-Month High
EURJPY is strongly positive as it reached a fresh 31-month peak at 132.40 on April 29. The MACD is standing beyond the trigger and zero lines, though, the RSI is losing ground above the 50 level. The short-term simple moving...
WTI Oil: Renewed Optimism Over Global Demand Recovery Lifts Oil Price Towards Multi-Week Highs
WTI oil rose on Monday, retracing the largest part of Friday’s fall and shifting near-term focus higher again, after bulls were impacted by rising demand fears over surge in India’s coronavirus cases and higher oil supply. Fresh optimism over a...
USD Index Outlook: The dollar Eases after Recovery Ran Out of Steam; Key Economic Events in Focus this Week
The dollar made a soft start of the week and puled back from one-week high, posted after last Friday’s 0.76% advance. Profit-taking and lowered volumes due to holidays in China, Japan and Britain, pushed the greenback lower on Monday. Traders...
AUD/USD Bullish Zone Is Holding
The AUD/USD is making 1-2-3 bullish pattern at the weekly and daily support zones and slightly above the ATR projection low. 0.7705-0.7720 is the zone where buyers should show up. 1-2-3 pattern is holding and bouncing off the camarilla weekly...
EUR/GBP Outlook: Sterling Slips as BoE’s is Unlikely to Signal any Change in the Policy Next Week’s
The cross rose on Friday as the pound was sold against its major counterparts on fading risk mode and traders awaiting BoE’s policy meeting next week. The British central bank is unlikely to sign is unlikely to signal any tapering...
WTI Futures Resume Hike With Weakened Bullish Backing
WTI oil futures’ latest upside push is confronting the upper Bollinger band around 65.38, although current positive impetus appears somewhat frail. Not too far back the commodity formed a support base around 57.25-58.14 after retreating from the 28½-month peak of...
USD/JPY Wave 4 Pullback After Bullish Wave 3 Pattern
USD/JPY showed a strong bullish impulse above the 21 emas. Now price action is testing and bouncing at this 21 ema zone. USD/JPY has been very impulsive and very bullish since the lower high and breakout above the resistance lines...
GBP/USD Outlook: Thursday’s Shooting Star And Stronger Dollar Weigh On Sterling
Cable accelerated lower in early Friday, driven by fading risk appetite and a stronger dollar. Five-day rally 1.3823 (Apr 22 trough) showed signs of stall and Thursday’s action formed a shooting star candle, while today’s weakness added to signals of...
EUR/USD Outlook: Euro Eases On Weak German Data, Profit-Taking
The Euro dips below the 1.21 mark in European trading on Friday, pressured by greater than expected German economy’s contraction in Q1, and profit-taking ahead of May holidays in China and Japan, which are expected to reduce the activity and...
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