USD/JPY Struggling To Gain Bullish Momentum

Key Highlights The US Dollar started a decent recovery from 105.05 against the Japanese Yen. USD/JPY is facing many key resistances near 107.00 and 107.20.The US Manufacturing PMI declined from 50.4 to 49.9 in August 2019 (119-month low) (Prelim).Jackson Hole Symposium and G7 Meeting could impact the market sentiment in the short term. USD/JPY Technical Analysis This ...
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USD/CAD Remains In Uptrend Above 1.3200

Key Highlights Recently, the US Dollar retested the key 1.3345 resistance against the Canadian Dollar. A major bullish trend line is forming with support near 1.3240 on the 4-hours chart of USD/CAD.Canada’s CPI increased 0.5% in July 2019 (MoM), more than the +0.2% forecast.The US Manufacturing PMI could increase from 50.4 to 50.5 in August 2019 (Preliminary). USD/CAD ...
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AUD/USD Could Recover Sharply If It Breaks 0.6820

Key Highlights Recently, the Aussie Dollar corrected higher from 0.6676 (multi-year low) against the US Dollar. AUD/USD traded above a key bearish trend line at 0.6780 on the 4-hours chart.EUR/USD and GBP/USD remain in a bearish zone below key resistances.The US Existing Home Sales is likely to increase 2.5% in July 2019 (MoM). AUD/USD Technical Analysis Earlier this ...
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GBP/USD Recovery Remains Attractive To Sellers

Key Highlights The British Pound started a short term recovery from 1.2014 against the US Dollar. GBP/USD is struggling to gain momentum above the 1.2180 and 1.2200 resistances.The Euro Zone CPI in July 2019 declined 0.5% (MoM), more than the -0.4% forecast.EUR/USD could extend losses as long as it is below 1.1150. GBP/USD Technical Analysis Earlier this month, we saw...
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EUR/USD Targets Fresh 2019 Low Below 1.1000

Key Highlights The Euro failed to settle above 1.1200 and declined below 1.1150 against the US Dollar. A crucial bearish trend line is forming with resistance near 1.1210 on the 4-hours chart.The US Building Permits in July 2019 jumped 8.4%, more than the 5.6% forecast.The Euro Zone CPI in July 2019 might decline 0.4% (MoM), down from the last +0.2%. EUR/USD Technical A...
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USD/JPY Facing Key Resistance Near 107.00

Key Highlights The US Dollar is forming a decent support above 105.20 against the Japanese Yen. USD/JPY is facing a strong resistance near 106.75 and a bearish trend line on the 4-hours chart.The US Retail Sales in July 2019 jumped 0.7% (MoM), more than the +0.3% forecast.The US Building Permits in July 2019 might increase 5.6%. USD/JPY Technical Analysis After a stro...
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Crude Oil Price Likely To Accelerate Decline Below $54

Key Highlights Crude oil price is facing a strong resistance near $57.00 against the US dollar.A major bearish trend is forming with resistance near $57.10 on the 4-hours chart of XTI/USD.The US crude oil inventories increased by 1.6 million barrels in the week ending August 9, 2019.The US Retail Sales in July 2019 might increase 0.3% (MoM), less than the last +0.4%. Cru...
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Gold Price Hits New 6-Year High, Rally Seems Unstoppable

Key Highlights Gold price rallied above the $1,500 and $1,520 resistance levels against the US Dollar.A new 6-year high was formed above $1,530 before the price corrected lower.The US CPI increased 1.8% in July 2019 (YoY), more than the 1.7% forecast.The UK CPI might increase 1.9% in July 2019 (YoY), less than the last 2.0%. Gold Price Technical Analysis This month, g...
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GBP/USD Rebound Could Fail Near 1.2150 or 1.2200

Key Highlights The British Pound recovered from a new 2-year low at 1.2014 against the US Dollar. GBP/USD is likely to face a strong selling interest near 1.2150 or 1.2200.The UK Claimant count could change 22.8K in July 2019, less than the last 38.0K.EUR/USD remained well bid and supported above the 1.1150 area. GBP/USD Technical Analysis In the past few days, the Br...
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EUR/USD Showing Positive Signs Above 1.1150

Key Highlights The Euro recovered nicely after testing the 1.1025 support area against the US Dollar. EUR/USD is facing resistance near 1.1240 and a bearish trend line on the 4-hours chart.China’s CPI in July 2019 increased 2.8% (YoY), more than the 2.7% forecast.GBP/USD is under a lot of pressure and recently declined to a new multi-year low below 1.2050. EUR/USD Tech...
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