AUDUSD – Aussie Dollar At Risk of Further Downsides?

Key Highlights The Aussie dollar recently broke a major support at 0.7680 against the US Dollar. There was a bullish trend line break at 0.7685 on the 4-hours chart of AUDUSD, which has opened the doors for more declines. In Australia, the Wage Price Index (Q4 2016) released by the Australian Bureau of Statistics, posted an increase of 0.5%, compared with the +0.5% f...
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USDJPY – Dollar To Yen Preparing For Another Decline

Key Highlights The US Dollar after a rejection just below 115.00 against the Japanese yen moved down sharply. A monster bearish trend line on the 4-hours chart of USDJPY protected further gains near 114.95. Today, the Japanese Nikkei Manufacturing PMI preliminary reading for Feb 2017 was released, which came in at 53.5 vs the 52.1 forecast. Today, the US Manufactu...
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EURUSD – Correction Likely Over In Euro To Dollar

Key Highlights The Euro after a downside move towards 1.0520 against the US Dollar started correcting higher. The EURUSD pair broke a bearish trend line (4-hours chart) on the way up and traded as high as 1.0675. Today in the Euro Zone, the German Producer Price Index will be released for Jan 2017 by the Statistisches Bundesamt Deutschland, and the forecast is lined ...
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NZDUSD – New Zealand Dollar May Attempt To Reclaim 0.7250

Key Highlights The New Zealand dollar after dropping towards 0.7130 against the US dollar found support. The NZDUSD pair consolidated for some time before breaking a channel resistance at 0.7185 on the 4-hours chart. Today in New Zealand, the Retail Sales figure for Q4 2016 released by the Statistics New Zealand posted an increase of 0.8%, compared with the 1.1% fore...
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EURJPY – Euro Facing Uphill Task Vs Japanese Yen

Key Highlights The Euro recently bounced from the 120.20 low against the US Dollar, but found resistance near 121.10-20. There was a break above two bearish trend lines at 120.60 on the 4-hours chart of EURJPY. Today in Australia, the Employment Change released by the Australian Bureau of Statistics for Jan 2017 came in at 13.5K, compared with the forecast of 10K. ...
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AUDJPY – Aussie Dollar Forming Double Top Vs Yen?

Key Highlights The Aussie dollar traded higher this week against the Japanese yen, but faces resistance near 87.50-70. The AUDJPY pair is likely forming a double top near 87.50, but there is a chance of a break higher as well. Today, the Australian Westpac Consumer Confidence released by the Faculty of Economics and Commerce Melbourne Institute posted an increase fro...
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GBPUSD – Can British Pound Hold Uptrend Ahead of UK CPI?

Key Highlights The British pound somehow managed to stay supported near the 1.2440 level against the US Dollar. There is a critical bullish trend line on the 4-hours of GBPUSD at 1.2460, which is holding the downside move. Today, the UK Consumer Price Index will be released for Jan 2017 by the National Statistics, which is forecasted to increase by 1.9% (YoY). In ...
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EURUSD – Euro Back In Bearish Zone Vs US Dollar

Key Highlights The Euro after trading as high as 1.0828 against the US Dollar this past week found resistance. The EURUSD pair moved down, and broke a major bullish trend line at 1.0700 on the 4-hours chart. The Import Price Index released by the US Department of Labor in the US posted an increase of 0.4% in Jan 2017, more than the 0.2% forecast. The US Export Pri...
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USDCAD – Canadian Dollar Eyes Employment Report For Recovery

Key Highlights The US Dollar was seen struggling near the 1.3200 resistance area against the Canadian dollar. There is a crucial bearish trend line at 1.3200-1.3210 on the 4-hours chart of USDCAD, acting as a hurdle for an upside move. In Canada, the employment Change figure for Jan 2017 will be released today by the Statistics Canada, forecast 0.0K vs 53.7K previous...
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NZDUSD – New Zealand Dollar Under Pressure, RBNZ Keeps Rates Unchanged

Key Highlights The New Zealand dollar recently failed to break the 0.7375 resistance against the US Dollar and declined. The NZDUSD pair broke a major support at 0.7300, as there was a bullish trend line on the 4-hours chart. The RBNZ Interest Rate Decision was announced by the Reserve Bank of New Zealand in which the central bank made no changes in rates from 1.75%....
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