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EUR/USD - Positive, supported by key Averages.

Alan Collins 3cAnalysis

In line with yesterday's call, buyers were attracted around the 13/100 day mvg avg area for a 3rd day in a row. Gains were modest though and unable to effectively breach Friday’s Marabuzo line. That adds a strong note of caution but our intraday signals are positive and so our call for this morning is a Buy from 7am but leaving room to also Buy any Dip to 1.1066, Tuesday’s open. The risk is Friday’s 1.1039 low trade with an immediate target of 1.1111, Friday’s high. A move through that point then exposes sentiment to 1.1143, the top of the Keltner channel, and 1.1167, the 5 week open.

Supported by Key Averages

EUR/USD Current Trading Positions

Sell 58%

Buy 42%

Avg Sell Price 1.1069

Avg Buy Price 1.1084

Liquidity Distribution

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

GBP/USD weakens to two-week lows near 1.3520

GBP/USD trades on the back foot, returning to the low 1.3500s, or two-week troughs, on Tuesday. Cable’s bearish price action follows decent gains in the Greenback at the time when investors assess latest US data releases and the persistent uncertainty in the US-Iran crisis.

EUR/USD remains offered; breaks below 1.1600

EUR/USD now accelerates its daily correction, breaching below the key 1.1600 support level on Tuesday. The pair’s daily correction comes on the back of a decent bounce in the US Dollar despite disappointing US data releases and amid persistent geopolitical concerns.

Gold eyes $4,300 breakdown amid Fed hike bets, Iran risks, firm USD

Gold languishes near a two-and-a-half-week low, touched during the Asian session on Wednesday, awaiting a break below $4,300 before the next leg down. Escalating US-Iran tensions lift oil prices to a nearly six-week high and fuel inflation fears, reaffirming Fed rate-hike bets. This acts as a tailwind for the safe-haven US Dollar and undermines demand for the non-yielding bullion.

WTI advances to mid-$90.00s, fresh high since July 24 amid escalating US-Iran tensions

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – scales higher for the third straight day – also marking the fifth day of a positive move in the previous six – and climbs to a fresh high since July 24 during the Asian session on Wednesday.

Middle East war takes its toll on Gold prices

The US Dollar accelerates its advance against the precious metal in the American session on Tuesday, following news indicating United States forces launched attacks on Islamic Revolutionary Guard Corps targets in Iran, as reported by the US Central Command. Explosions were reported on Qeshm Island, around the Strait of Hormuz, and across southern Iran.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.

EUR/USD - Positive, supported by key Averages.

Supported by Key Averages

EUR/USD Current Trading Positions

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Supported by Key Averages

EUR/USD Current Trading Positions

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