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Market Recap: 11 - 15 March

 

 
On Tuesday last week we covered the AUDUSD which spent the remainder of the week consolidating in a narrow range right above the key level of 0.7050. Just leading up to last week the AUDUSD rallied well and moved back up that level. In the last few weeks however the AUDUSD has fallen from near 0.72 down to its lowest levels in two months at 0.70 before the recent rally. For the most part in the last two months, the AUDUSD has traded within a narrow range between 0.7050 and around 0.72. 
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UK Oil - Moves Towards Three Month High Near $68 on Supply Cuts

 

 
In the last couple of weeks oil has steadily inched higher and in the last 24 hours has surged higher to be within reach of a three month high near $68. A few weeks ago oil dropped sharply after reaching a three month high just shy of $68, however it has enjoyed a very solid start to the year rallying from 16 month lows below $50 at the end of last year, back up to the key $58 level and beyond, after its doom and gloom to close out 2018. 
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Market Recap: 25 February - 1 March

 

 
On Tuesday last week we covered the GBPUSD which continued earlier in the week to climb above the key level of 1.32 before finishing the week easing back to this level and finding support there. The last three weeks has seen a resurgent sterling as it climbed back towards that key 1.32 level, after spending the previous three weeks falling away strongly from the same key resistance level at 1.32.
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Market Wrap – February 2019

Several significant issues have continued into the New Year including Brexit which is quickly approaching the key date in March, as well as the lingering trade talks between the United States and China which are having a flow on effect into many markets around the world.  To add to the concerns, the International Monetary Fund (IMF) has recently warned governments to prepare for a possible economic storm as growth undershoots expectations.

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UK Oil - Drops from Three Month High Near $68 after Trump Comments

 

 
In the last couple of days oil has dropped sharply after reaching a three month high just shy of $68. It has however had a very solid start to the year rallying from 16 month lows below $50 at the end of last year, back up to the key $58 level and beyond, after its doom and gloom to close out 2018.
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Market Recap: 11 - 15 February

 

 
On Tuesday last week we covered the GBPUSD which continued throughout the week to move strongly lower before rallying higher to finish the week. The last three weeks has seen the GBPUSD fall strongly away from the key resistance level at 1.32 and it seems to be eyeing off potential support at 1.27 again. The sterling enjoyed a very positive January as it has moved from below 1.27 up to a three-month high at the resistance level around 1.32, before the recent decline.
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UK Oil - Climbs to Three Month High as OPEC Cuts

 

 
Oil has started this year well rallying from 16 month lows below $50 at the end of last year, back up to the key $58 level and beyond, after its doom and gloom to close out 2018. The $58 level continues to play a role and has provided some support in the last few weeks as oil consolidates a little in that time and is steadily moving higher to reach a three month high in the last 24 hours.
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Market Recap: 21 - 25 January

 

 
On Tuesday last week we covered the US30 index which continued throughout the week to struggle with resistance from the current key level of 25,000. After falling to its lowest levels in 18 months below 21,500, in the last few weeks the US30 index has been able to rally well back towards the key 24,000 level where it met several days of resistance before moving higher towards 25,000.
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UK Oil - Consolidates Above Key Level of 58 as Global Concerns Weigh

 

 
Oil has started this year well rallying from 16 month lows below $50 at the end of last year, back up to the key $58 level and beyond, after its doom and gloom to close out 2018. The $58 level continues to play a role and has provided some support in the last couple of weeks as oil consolidates a little in that time. The $58 level supported oil very well for several weeks at the end of last year and is likely to continue to do so.
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Market Recap: 7 - 11 January

 

 
On Tuesday last week we covered UK Oil which since writing has continued to move higher to multi-week highs above $62, before easing a little to start the new week. The current key level remains $58, as it has met some resistance at this level around a week ago and eased lower, which was to be expected after this level offered strong support to oil to finish last year. 
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