Copper Outlook: Bears Hit Six-Week Low on Negative Fundamentals
Copper fell to new six-week low at $2.6575 on Wednesday in extension of strong fall in past two days. The metal price was down nearly 3% on Mon/Tue’s bearish acceleration, sparked by fresh fears of escalation of US/China trade war...
USD/JPY Remains Supported Amid Growing BoJ-Fed Policy Divergence
While some of the major global central banks have started, or about to start, the process of normalising their monetary policies, there were no signs of that from the Bank of Japan overnight. If anything, the BoJ was slightly dovish...
WTI OIL Outlook: Bearish Bias Below 200SMA
WTI contract stands at the back foot on Tuesday, after recovery attempts were repeatedly capped by 200SMA ($67.50) and Monday’s pullback and close in red weakened near-term structure. Persisting concerns that US/China trade conflict could escalate and slow demand and...
AUDUSD Outlook: Lift Above Converged 10/20SMA’s Needed To Signal Break Out Of Six-Day Congestion
The Australian dollar trades at the upper side of the range that extends into sixth straight day on Tuesday, boosted by advance in China’s stocks. Optimistic tones that US and China could reach a deal on next month’s G20 meeting...
Technical Analysis: Euro/Dollar & Dollar/Yen
Euro Under Selling Pressure The euro-dollar has been under immense selling pressure and the intra-day chart (4-hour) shows this picture. The price is auto trading below the downward trend line shown in the orange line. As long as the price...
BP: Earnings Beat Analyst Consensus
Fundamental Analysis BP’s stock price surged 1.3 percent as the company reported better than expected earning results. The results showed higher profits and lower sales than estimated. The company reported a profit of 19 pence a share versus the estimate...
USDJPY Price Reversal Leaves Risk Towards 112.88 Zone
USDJPY price reversal leaves risk towards the 112.88 resistance. On the downside, support comes at the 112.00 level where a break will target the 111.50 level. A break through here will turn focus to the 111.00 level and then lower...
Dow Bounces after Repeated Downside Rejections; Plethora of Barriers Warns of Limited Correction
Dow Jones Dec future contract regained traction and bounced on Monday, with fresh advance after repeated downside rejections last week, fueled by acquisition news from IBM and better than expected US inflation data. Fresh recovery generates initial basing signal after...
DAX Outlook: Recovery Accelerates On Weaker Euro/German Political News
The index rose nearly 2% in European auto trading on Monday, supported by weaker Euro and political news from Germany, as German Chancellor Angela Merkel said she will not seek re-election as a head of her CDU party in December....
XAU/USD Analysis: Will Surge
During Friday’s trading session, the yellow metal broke the resistance of the monthly R3 at 1,241.87 to end the trading day at 1,231.99 mark. On Monday morning, the gold was auto trading between the 100-hour and the 200-hour simple moving...
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