Market Morning Briefing: Aussie Has Broken Below 0.76
STOCKS Equities continue to move up and will be coming closer to their crucial resistance in some time. So as mentioned yesterday, we would be approaching cautiously as the equities move up from here. Dow has risen above 31000 but...
DXY and XAU/USD Holding Key Levels after BOE
The DXY has been on a tear lately, moving from 90.00 to 91.50 since January 22nd. Today alone the US Dollar index moved from 91.09 up to 91.485. The DXY hit resistance just as the BOE announced it was leaving...
GBP/USD Entering The Zonal Support
The GBP/USD has formed a retracement pattern and could be going up straight from the POC zone. The market is at support, bounce is expected. Today the BOE will decide on the rates and future monetary policy guidance. It will...
AUD/USD Upsides Capped, Dollar Extends Gains
Key Highlights AUD/USD declined below the 0.7650 and 0.7600 support levels. A key bearish trend line is forming with resistance near 0.7670 on the 4-hours chart. EUR/USD extended its decline, GBP/USD is struggling to stay above 1.3600. The US ADP...
USD/TRY: Bears to Extend Further after Break of Key Supports
The USDTRY returned to red on Wednesday after bears took a breather on Tuesday, when price bounced from new six-month low (7.0887). The pair was down nearly 4% since it broke pivotal 200DMA last week, with additional negative signals being...
GBP/USD Outlook: Deeper Pullback Seen On Firm Break Of 20DMA
Cable stands at the back foot in early Wednesday’s trading and pressures again pivotal 20DMA support (1.3648) which holds the action since late December. Near-term bias remains negative following fresh weakness after multiple failures to clearly break 1.37 zone, although...
Silver Drops Sharply after False Break Above $30
Spot silver fell sharply on Tuesday (down nearly 7% until early hours of the US session) following short-lived surge to eight-year high on probe above $30 barrier on Monday. The rally stalled after huge buying by a pack of small...
Dollar Index Rises to Nine-Week High on Fading Risk Sentiment
The dollar index extends gains and hits the highest in nine months on Tuesday, lifted by fading risk sentiment on darkening economic outlook on extended lockdowns. Monday’s 0.54% rally, which penetrated through the base of thick falling daily cloud (spanned...
USDCHF Aims To End Falling Trend, Eyes On 0.9015
USDCHF charted an inverse head and shoulder formation at the bottom of its sell-off, where a six-year low of 0.8756 has taken the form of a bullish doji in early January, signalling the end of the bearish phase. The case...
Turkish Lira Rises to Five-Month High vs Dollar on Break of Key Barriers and Upbeat Data
The Turkish lira is among top gainers on Monday, advancing 1.6% against the US dollar since opening in Asia and on track for further advance. Last week’s break of pivotal 200DMA generated positive signal, with fresh acceleration through next key...
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