Crude Oil Price Could Accelerate Decline Below $55

Key Highlights Crude oil price is declining and it recently settled below $60.00 against the US dollar.Earlier, there was a break below a key bullish trend line with support near $61.35 on the 4-hours chart of XTI/USD.GBP/USD is extending its recovery, while EUR/USD is still facing many hurdles.The US Initial Jobless Claims could increase from 204K to 215K for the week endi...
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AUD/USD Bulls Facing Uphill Task

Key Highlights In the past few days, AUD/USD declined heavily and tested the 0.6850 support.A lot of hurdles are forming for the bulls near 0.6900 and 0.6930 on the 4-hours chart.Both EUR/USD and GBP/USD started a decent recovery in the past few sessions.The US Existing Home Sales could increase 1.2% in Dec 2019 (MoM). AUD/USD Technical Analysis AUD/USD struggled to s...
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GBP/USD Trading Near Make-or-Break Levels

Key Highlights GBP/USD remained in a bearish zone below the 1.3100 pivot area.A key bearish trend line is forming with resistance near 1.3050 on the 4-hours chart.The UK Claimant count could change 24.5K in Dec 2019, down from the last 28.8K.The ILO Unemployment Rate is likely to remain stable at 3.8%. GBP/USD Technical Analysis This month, GBP/USD faced an increase i...
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EUR/USD Remains Vulnerable Below 1.1120

Key Highlights EUR/USD failed to gain strength above 1.1150 and declined below 1.1100.There was a break below a crucial bullish trend line with support near 1.1105 on the 4-hours chart.The Euro Zone CPI increased 1.3% in Dec 2019 (YoY), similar to the market forecast.The German Producer Price Index could rise 0.1% in Dec 2019 (MoM). EUR/USD Technical Analysis This pas...
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USD/JPY Breaks Key Resistance, More Upsides Likely

Key Highlights USD/JPY surpassed a major hurdle near the 109.70 resistance area.The pair is likely to gain bullish momentum above 110.40 in the near term.The US Retail Sales increased 0.3% in Dec 2019 (MoM), similar to the forecast.The US Industrial Production could decline 0.2% in Dec 2019 (MoM), down from the last +1.1%. USD/JPY Technical Analysis Earlier this week,...
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Gold Price Could Restart Its Rise Above $1,575

Key Highlights Gold price corrected lower from $1,611 and tested the $1,535 support against the US Dollar.Recently, there was a break above a key bearish trend line with resistance near $1,545 on the 4-hours chart of XAU/USD.The US PPI increased 0.1% in Dec 2019 (MoM), less than the 0.2% forecast.The US Retail Sales is likely to increase 0.3% in Dec 2019 (MoM). Gold Pric...
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USD/CHF Remains In Downtrend Below 0.9750

Key Highlights USD/CHF followed a bearish path and settled below the 0.9750 support.A crucial bearish trend line is forming with resistance at 0.9740 on the 4-hours chart.The US CPI is up 0.2% in Dec 2019 (MoM), whereas the forecast was 0.3%.The US PPI could increase 0.2% in Dec 2019 (MoM), up from the last 0%. USD/CHF Technical Analysis This past week, USD/CHF made a...
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GBP/USD Signaling Bearish Continuation Below 1.3000

Key Highlights GBP/USD failed to recover above 1.3200 and declined more than 200 pips.The pair broke a crucial triangle support at 1.3110 on the 4-hours chart.The UK Industrial Production decreased 1.2% in Nov 2019 (MoM).The US CPI could increase 2.3% in Dec 2019 (YoY), more than the last 2.1%. GBP/USD Technical Analysis Earlier this month, GBP/USD topped near 1.3280 ...
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EUR/USD Facing Uphill Task Near 1.1150

Key Highlights EUR/USD found support near 1.1085 and it is correcting higher.There are many hurdles on the upside near 1.1145 and 1.1150.GBP/USD might decline heavily if it breaks the 1.3000 support area.The UK Industrial Production could decrease 0.2% in Nov 2019 (MoM). EUR/USD Technical Analysis After a steady decline, EUR/USD found support near the 1.1085 area. The...
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USD/JPY Signaling Bullish Continuation Above 109.50

Key Highlights USD/JPY recovered sharply and climbed above the 109.00 resistance area.The current trend is positive, suggesting more gains if the pair surpasses 109.70.The US Initial Jobless Claims for the week ending Jan 04, 2020 declined from 223K to 214K.The US nonfarm payrolls could increase 164K in Dec 2019, less than the last 266K. USD/JPY Technical Analysis Aft...
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