WTI OIL Outlook: Overbought Conditions Suggest Consolidation Before Bulls Resume
WTI oil price remains steady and consolidating under new three-month high at $61.33, being boosted by drop in US crude stocks and easing trade tensions that brighten the outlook for global economic growth and energy demand. Strong advance in past...
AUD/USD Outlook: Trade Optimism Keeps The Aussie Inflated
The Australian dollar extends advance in early European trading on Friday, following previous day’s 0.5% rally on upbeat Australian jobs data and indications that trade deal with China could be signed in early January. Fresh bullish extension cracked strong barriers...
Market Morning Briefing: Pound Has Broken Below Support At 1.3048
STOCKS Dow has risen past its near-term resistance and is bullish to move further higher. The market seems to have ignored the President Trump’s impeachment. DAX and Nikkei continue to look weak to dip in the near-term. Shanghai can consolidate...
Silver Waits Patiently for Fuel in a Still-Negative Picture
Silver is attempting to move below the 16.95 level, which is the 50.0% Fibonacci retracement of the up leg from 14.28 to 19.63 and where the 20-day simple moving average (SMA) presently lies. Even though negative momentum has weakened, the...
EURUSD 1.1150 Level Important
The euro currency has failed to hold above the 1.1130 level against the US dollar, further adding to the uncertainty surrounding the pair. Going forward, bulls must close the daily candle above the 1.1150 level or the EURUSD pair risks...
EURUSD Catalyst Needed
The euro currency is moving lower against the US dollar, following the release of more weak Manufacturing data from the German economy. A minor technical correction back towards the 1.1115 support level still remains possible for the EURUSD pair. Overall,...
AUDNZD Continues to Tumble with Negative Signals Intact
AUDNZD bears seem to be in control after the reversal at the twelve-month peak of 1.0864 and the break below the 1.0663 low – having dropped past all simple moving averages (SMAs) – turning the medium-term bias back to a...
Pound Sterling Gains As Odds Of A Tory Win Rises
The pound sterling continued to advance gains, rising to a seven month high on Wednesday. The currency picked up momentum after latest polls put the Conservative party in the lead. Besides leading the polls, the rally comes as investors hope...
GBP/USD Outlook: Cable Extended Rally to Seven-Month High, Helped by Downbeat US Data
Cable extended strong advance on Wednesday and hit new seven-month high at 1.3120. The pair cleared several barriers en-route (100/200 WMA’s), after downbeat US data (ADP private employment report and non-manufacturing PMI) further hurt dollar and added to positive pound’s...
GBPCAD Rally Looks Overstretched Near Resistance Trendline
GBPCAD gained further positive traction on Wednesday and unlocked a fresh 7-month high of 1.7393. It seems that there is more bullish fuel in store, though at a limited amount as the RSI and the Stochastics are moving into overbought...
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