Monday, July 6, 2020
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Upbeat comments from Barnier were not enough to trigger a sustainable rally in sterling

GBPUSD faces strong local resistance in the 1.24 area

GBPUSD struggles to regain a sustainable bullish momentum after a dip below the 100-daily moving average last week. Yesterday’s rally faded around the 50-DMA that caps the upside bias on Wednesday as...
Brent needs to confirm a recovery above $42 on a daily closing basis so that to extend the ascent in the days to come

Oil posts best quarter in nearly thirty years

Oil prices declined marginally on Tuesday but posted the best quarter in nearly thirty years as the futures switched into a recovery mode following a plunge along with global stocks in the...
GBPUSD continues to trade near monthly lows on Tuesday

US dollar index at weekly highs

The US dollar index, measuring its strength against a basket of other major currencies, climbed to weekly peaks around 97.75 on Tuesday. If the upside pressure persists, the price could soon reach...
In a wider picture, the common currency needs to make a decisive break above the 200-weekly moving average

EURUSD bullish while above the 1.12 handle

EURUSD started the week on a mixed note but managed to regain the upside bias after the initial hesitation. The pair climbed to the 1.1270 area where the intermediate resistance capped the...
The recent pick up in volatility could bring higher trading volumes and more aggressive movements in the cryptocurrency markets

Bitcoin struggles to regain bullish momentum

Bitcoin closed little changed on Thursday, creating a long lower wick on the daily timeframes. Despite such wicks traditionally signal a limited downside pressure, BTCUSD came under the selling pressure today, threatening...
The yellow metal could challenge fresh long-term highs in the medium term as there are still a lot of risk factors globally

Gold off eight-year highs but downside potential limited

After hitting nearly eight-year highs, gold prices started to correct lower amid overbought conditions on Wednesday. Today, the bullion struggles to regain the upside momentum but at least refrains from a deeper...
The futures will resume the ascent after the current correction on the condition that risk-on tone reemerges in the days to come

Oil prices hold on key support level

Oil prices declined over 5% on Wednesday, as the bearish correction accelerated amid a combination of a widespread risk aversion and dismal industry data from the EIA. Brent crude dipped below the...
The bullish tone started to wane along with the reemerging selling pressure surrounding the high-yielding assets

British pound loses upside steam, threatens the 50-DMA

Following two days of gains, the British pound shows early signs of weakness. GBPUSD is losing upside steam on Wednesday after failed attempts to make the 100-daily moving average into support. Earlier...
The data suggesting the regional economy could rebound from the coronavirus pandemic sooner than expected

Euro lifted by strong data and a weaker dollar

The euro received a decent lift on Tuesday and manages to extend gains to one-week highs just above the 1.13 barrier. Despite the EURUSD failed to confirm the breakout, the tone surrounding...
Despite the correction, the $10,000 handle remains in market focus now

Bitcoin consolidation is over, further gains could be ahead

After a period of consolidation, bitcoin rallied strongly on Monday. During the ascent, BTCUSD broke above the $9,600 resistance area and extended gains to $9,800 earlier today. Once the prices reached this...