Cable is consolidating under new multi-week high (1.1854) reinforced by cracked Fibo 76.4% of 1.2293/1.0348 (1.1834), where last week’s strong rally faced headwinds. Bulls remain firmly in play despite overextended daily studies, boosted by weekly Read more…
The Aussie Dollar started a decent increase from the 0.6400 zone against the US Dollar. The AUD/USD pair climbed above the 0.6550 level to move into a bullish zone. There was a clear move above Read more…
Bulls are taking a breather in early Monday’s trading following strong rally last week (up 4.5% for the week, the biggest weekly gains since mid-March 2020). Last week’s acceleration of the recovery from new 20-year Read more…
It’s been quite a choppy start to the trading week, with much of the focus on China where Covid relaxation measures and property market support have brought some relief. Unfortunately, both come at a time Read more…
The S&P 500 flies high fuelled by the Fed pivot optimism. The vertical rise above 3900 confirms the bullish MA cross on the daily chart, suggesting an acceleration to the upside. The index is testing Read more…
The pound found support from upbeat GDP in Q3. The pair has been looking to hold onto its recent gains above 0.8780, which is a prerequisite before a sustained recovery could materialise. The latest retracement Read more…
The US dollar sank as traders reassessed the Fed’s stance in light of cooling inflation. A sharp fall below the daily support at 0.9740 prompted more buyers to bail out. Then strong momentum below 0.9500 Read more…
Gold opened with a small negative gap on Monday, pulling back below the August 25 high of 1,765 after stretching its extraordinary rally to a two-and-a-half month high of 1,772 last Friday. The latest impressive Read more…
EURUSD advanced sharply to a new three-month high of 1.0363 on Friday, continuing the bullish extension from Thursday’s session following the rebound off the parity level. The pair has jumped above the long-term descending channel, Read more…
Markets Last Thursday’s US October CPI release still dominates the debates. The relative small downward surprise (headline 0.4% M/M & 7.7% Y/Y; core 0.3% M/M & 6.3% Y/Y) triggered an outsized market reaction. They flipped Read more…