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- WTI Oil – Sharp Pullback Followed by Swift Rebound Signals Healthy Correction Before Renewed Upside Move
- German Consumer Sentiment Seen Deteriorating Further in March – GfK
- AUDUSD Supported by Stronger-Than-Expected Inflation, Though Dovish RBA Governor Caps Upside Momentum
- Japanese Yen Slides Nearly 1% Amid Renewed Monetary Policy Uncertainty
- WTI Oil – Bulls Maintain Control Amid Escalating Supply Disruption Fears
- BTCUSD drops to a three-week low amid uncertainty surrounding U.S. tariff developments.
- Gold breaks above the upper boundary of its recent trading range, triggering a renewed bullish signal.
- U.S. economic growth decelerated sharply in the fourth quarter, falling significantly short of forecasts, while inflationary pressures continued to run high
- UK unemployment rises to highest level in years while pay growth slows, boosting rate-cut bets.
- USDJPY – downside momentum stalls after almost 3% loss this week
Dollar Index – Bears pause for a limited correction ahead of key U.S. data releases.
The dollar index extended its recovery for a second consecutive day, supported by short covering as it approaches key support levels in the 100.29/21 zone (December 2023 low and 200-week moving average).
Oversold conditions on the daily…
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EUR/USD bulls take a breather just below the 1.1200 resistance
UR/USD slipped on Wednesday after failing multiple times to break the 1.1200 resistance, though the pair remains in a consolidation phase as long as it holds above key pivots at 1.1124/14 (trendline support and rising 10DMA) and 1.1100…
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AUD/USD struggles to sustain gains despite stronger-than-expected Australian CPI
The AUD/USD reached a new 8-month high during the Asian session on Wednesday, boosted by a stronger-than-expected Australian July CPI. However, it has struggled to maintain gains above the 0.6800 level.
The subsequent pullback, though…
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EUR/GBP – The sharp bearish move may pause near support at the base of the daily cloud
EUR/GBP broke below the Fibonacci support at 0.8439 (76.4% retracement of the 0.8382/0.8624 rally) and is now testing the strong support at 0.8424 (base of the thick daily cloud) as it extends a five-day steep decline from the…
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XAU/USD’s extended consolidation is expected to set the stage for a fresh upward acceleration.
Gold edged lower on Tuesday morning after a two-day rally brought prices close to a new record high of $2,531.
Traders are cautious, keeping the metal in an extended consolidation, though demand remains robust due to a weaker dollar…
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WTI oil prices extend their rally for a third consecutive day, driven by supportive fundamentals
The recovery from the $71.46 low (August 21) has extended into a third consecutive day, accelerating on Monday following reports of a near-complete halt in oil production in Libya due to escalating political tensions.
This development…
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USD/JPY could see further declines as the corrective phase appears to be complete
USD/JPY fell to a three-week low on Monday, hitting the 76.4% Fibonacci retracement of the 141.68/149.40 corrective upswing, reinforcing signals that the correction within the broader downtrend is nearing completion.
Last week’s sharp…
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GBP/USD – Major bulls may pause before continuing their rally
GBP/USD pulled back from its highest level since March 2022 on Monday, signaling that bulls might take a breather after a 3.6% rally over the past two weeks and a strong bullish surge last Friday (nearly a 1% daily gain).
Overbought…
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The EUR/USD aims to retest its 2023 high following a shallow correction
The EUR/USD broke above the 1.1200 level after a 0.75% rally on Friday—the largest daily gain since August 2—reaching a new high for 2024 early Monday.
Bullish momentum remains strong following a two-week advance, putting the pair on…
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The dollar faced broad selling pressure following new dovish signals from Powell.
The US dollar weakened broadly on Friday following the highly anticipated speech by Fed Chair Powell at the Jackson Hole symposium. Although Powell did not specify the magnitude or pace of potential rate cuts, he reaffirmed that the Federal…
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