USD/JPY Likely To Face Resistance Near 109.00

Key Highlights The US Dollar found support near 107.80 and recovered recently against the Japanese Yen. A key bearish trend line is forming with resistance near 108.85 on the 4-hours chart of USD/JPY.The US Initial Jobless Claims for the week ending June 08, 2019 increased from 219K to 222K.The US Retail Sales in May 2019 could increase 0.6% (MoM), better than the last -0.2...
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AUD/USD Nosedives After Employment Report

Key Highlights The Aussie Dollar declined sharply below the 0.6980 support level against the US Dollar. AUD/USD traded below a major bullish trend line with support at 0.6955 on the 4-hours chart.Australia’s unemployment rate remained at 5.2% in May 2019, whereas the market was looking for a drop to 5.1%.The US Initial Jobless Claims for the week ending June 08, 2019 coul...
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USD/CAD Broke Key Support, Recovery Could Be Capped

Key Highlights The US Dollar declined heavily below the 1.3400 support area against the Canadian Dollar. USD/CAD is likely to face resistance near the 1.3330 and 1.3350 levels.The US PPI in May 2019 increased 1.8% (YoY), less than the +2.0% forecast.The US CPI in May 2019 could increase 0.1% (MoM), less than the last +0.3%. USDCAD Technical Analysis In the past few da...
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GBP/USD Could Start Strong Rebound In Near Term

Key Highlights The British Pound found support near 1.2560 and rebounded recently against the US Dollar. GBP/USD broke a major bearish trend line with resistance at 1.2675 on the 4-hours chart.The UK Industrial Production in April 2019 declined 2.7%, whereas the forecast was +0.1%.The UK Claimant Count in May 2019 could change 22.9K, less than the last 24.7K. GBPUSD Tech...
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EUR/USD Turned Short Term Bullish, Could Surpass 1.1350

Key Highlights The Euro started a steady rise above the 1.1250 resistance against the US Dollar. EUR/USD is currently placed above 1.1300 and it could surpass 1.1350.The US nonfarm payrolls in May 2019 came in at 75K, less than the 185K forecast.The Euro Zone Sentix Investor Confidence in June 2019 could decline from 5.3 to 1.4. EURUSD Technical Analysis This past wee...
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USD/JPY Remains In Downtrend Below 109.00

Key Highlights The US Dollar declined heavily and settled below the key 109.00 support against the Japanese Yen. If USD/JPY corrects higher, it is likely to face a strong resistance near 108.80 and 109.00.The US Initial Jobless Claims for the week ending June 01, 2019 remained stable at 218K.The US nonfarm payrolls in May 2019 could rise 185K, less than the last 263K. US...
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EUR/JPY Trading Near Make-or-Break Levels

Key Highlights The Euro started a decent recovery from the 120.78 low against the Japanese Yen. EUR/JPY recovered above 121.50 and a bearish trend line on the 4-hours chart.The Euro Zone Services PMI increased from 52.8 to 52.9 in May 2019.The Euro Zone GDP could grow 0.4% in Q1 2019 (QoQ), similar to the last reading. EURJPY Technical Analysis After a sharp decline, ...
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Gold Price Breaks Key Resistance, Dips Remain Supported

Key Highlights Gold price started a fresh increase above $1,288 and $1,300 resistances against the US Dollar.There was a break above a key bearish trend line at $1,281 on the 4-hours chart of XAU/USD.The US Factory Orders in April 2019 declined 0.8%, less than the -0.9% forecast.The US ISM Non-Manufacturing Index in May 2019 is likely to remain stable at 55.5. Gold Price...
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GBP/USD In Major Downtrend Below 1.2750

Key Highlights The British Pound extended its decline below the 1.2600 support area against the US Dollar. GBP/USD remains in a strong downtrend unless it recovers above 1.2750.The UK Manufacturing PMI declined sharply from 53.1 to 49.4 in May 2019.The UK Construction PMI might remain stable at 50.5 in May 2019. GBPUSD Technical Analysis In the past few weeks, there w...
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EUR/USD Recovery Facing Important Resistance

Key Highlights The Euro found support near 1.1115 and recently recovered against the US Dollar. EUR/USD is facing a strong resistance near 1.1190 and a bearish trend line on the 4-hours chart.The US Personal Income increased 0.5% in April 2019, more than the 0.3% forecast.The Euro Zone Manufacturing PMI in May 2019 is likely to remain at 47.7. EURUSD Technical Analysis ...
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