EUR/USD is Likely Forming Double Bottom at 1.1510

Key Highlights The Euro declined and retested the last swing low of 1.1505-10 against the US Dollar. There is a connecting bearish trend line in place with resistance at 1.1700 on the 4-hours chart of EUR/USD. The US Services Purchasing Managers Index (PMI) (Prelim) in June 2018 declined from 56.8 to 56.5. Today in the US, the New Home Sales Change for May 2018 wi...
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USD/JPY Following Uptrend Above 110.00

Key Highlights The US Dollar traded higher recently and settled above 109.80 against the Japanese Yen. There is a major ascending channel in place with support at 110.00 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending June 16, 2018 posted a decline from the last revised reading of 221K to 218K. Today in the US, the preliminary re...
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GBP/JPY Upsides Remain Capped By 146.00

Key Highlights The British Pound declined recently and settled below a major support at 146.20 against the Japanese Yen. There is a key bearish trend line in place with resistance at 146.90 on the 4-hours chart of GBP/JPY. Recently in the UK, the CBI Industrial Trends Index increased from -3 to 13 in June 2018. Today in the UK, the BOE interest rate decision is li...
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Gold Price Broke Key Support, Turned Bearish

Key Highlights Gold price failed to hold a major support near $1,285 and declined against the US Dollar. There was a break below a major bullish trend line with support at $1,296 on the 4-hours chart of XAU/USD. The US Housing Starts in May 2018 increased 5%, more than the forecast of +1.4%. Today, the US Existing Home Sales figure for May 2018 will be released, w...
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GBP/USD Likely to Revisit 1.3200 In Near Term

Key Highlights The British Pound declined sharply from well above 1.3400 and broke 1.3300 against the US Dollar. There was a downside break below 1.3330 on the 4-hours chart of GBP/USD. The pair is now in a bearish zone and it could decline back towards the 1.3200 level in the near term. Today in the US, the Building Permits for May 2018 will be released, which is...
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Can EUR/USD Hold The 1.1500 Support?

Key Highlights The Euro failed to move above the 1.1850 resistance and declined sharply against the US Dollar. There was a break below two key bullish trend lines with support near 1.1760 and 1.1700 on the 4-hours chart of EUR/USD. The Euro Zone CPI in May 2018 increased 0.5% (MoM), like the forecast. Today in the US, the NAHB Housing Market for June 2018 will be ...
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EUR/USD Eyeing Further Gains Above 1.1840

Key Highlights The Euro moved higher this past week and recovered above 1.1700 against the US Dollar. There is a major bullish trend line formed with support at 1.1720 on the 4-hours chart of EUR/USD. The pair must move above the 1.1840 barrier for more gains in the near term. Recently in China, the CPI for May 2018 increased 1.8%, similar to the forecast (YoY). ...
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USD/JPY Remains in Uptrend Above 109.40

Key Highlights The US Dollar traded higher and moved above the 109.00 resistance against the Japanese Yen. There is a short-term ascending channel forming with support at 109.60 on the 4-hours chart of USD/JPY. Recently in the US, the Initial Jobless Claims for the week ending June 2, 2018 declined from the last revised from 223K to 222K. Today, Canada’s net emp...
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EUR/GBP Upsides Remain Capped Near 0.8800

Key Highlights The Euro remained confined in a broad range below the 0.8800 resistance against the British Pound. There is a major bearish trend line in place with resistance near 0.8800 on the 4-hours chart of EUR/GBP. On the downside, supports are seen near the 0.8720 and 0.8700 levels. Today in the Euro Zone, the GDP report for Q1 2018 will be released, which i...
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Crude Oil Price Turned Bearish Below $66.00?

Key Highlights Crude oil price started a fresh downside move and declined below the $66.00 support against the US dollar. There is a major bearish trend line in place with resistance at $65.90 on the 4-hours chart of XTI/USD. The US Services Purchasing Managers Index (PMI) in May 2018 increased to 56.8 from 55.7. Today in the US, the Trade Balance figure for April...
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