Gold Price Facing Crucial Resistance Near $1,500

Key Highlights Gold price is trading below a major hurdle near $1,500 against the US Dollar.There is a crucial bearish trend line forming with resistance near $1,500 on the 4-hours chart of XAU/USD.The US Retail Sales declined 0.3% in Sep 2019 (MoM), whereas the forecast was +0.3%.The US Industrial Production could decline 0.1% in Sep 2019 (MoM), whereas the last was +0.6%....
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EUR/GBP Accelerating Losses, UK & Euro Zone CPI Reports Next

Key Highlights EUR/GBP declined heavily below the 0.8880 and 0.8800 support levels. The next key support is near the 0.8640 and 0.8620 levels.The Euro Zone CPI could rise 0.9% in Sep 2019 (YoY), similar to the last reading.UK’s CPI might increase 1.8% in Sep 2019 (YoY), more than the last +1.7%. EUR/GBP Technical Analysis This past week, there was a sharp rise in GB...
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GBP/USD Correcting Gains But Remains Well Supported

Key Highlights GBP/USD started a downside correction from the 1.2700 resistance. There are many supports near the 1.2500 and 1.2420 levels.The UK Claimant Count could change 27.9K in Sep 2019, less than the last 28.2K.EUR/USD is holding an important support area near the 1.1000 level. GBP/USD Technical Analysis This past week, there was a sharp increase in the British...
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EUR/USD Showing Positive Signs Above 1.1000

Key Highlights After a long struggle, the Euro managed to clear the 1.1000 resistance against the US Dollar. A connecting bullish trend line is forming with support near 1.1000 on the 4-hours chart of EUR/USD.The Michigan Consumer Sentiment Index increased from 93.2 to 96.0 in Oct 2019 (Prelim). The Euro Zone Industrial Production might increase 0.3% in August 2019 (MoM). ...
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USD/JPY Could Continue To Rise Towards 108.45

Key Highlights The US Dollar started a fresh increase from the 106.50 support against the Japanese Yen. A key ascending channel is forming with support near 107.35 on the 4-hours chart of USD/JPY.The US CPI in Sep 2019 was unchanged, whereas the forecast was +0.1% (MoM). The Michigan Consumer Sentiment Index could decline from 93.2 to 92.0 in Oct 2019 (Prelim). USD/JPY T...
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AUD/USD Recovery Above 0.6780 Won’t Be Easy

Key Highlights The Aussie Dollar started an upside correction from the 0.6670 low against the US Dollar. AUD/USD surpassed a major bearish trend line at 0.6735 on the 4-hours chart.The US Wholesale Inventories increased 0.2% in August 2019, less than the +0.4% forecast. The US CPI might increase 0.1% in Sep 2019 (MoM), similar to the last reading. AUD/USD Technical Analy...
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Gold Price Holding Key Support Ahead Of FOMC Minutes

Key Highlights Gold price recovered from $1,460 and settled above $1,485 against the US Dollar.There is a key bearish trend line forming with resistance near $1,510 on the 4-hours chart of XAU/USD.The US PPI declined 0.3% in Sep 2019 (MoM), whereas the forecast was +0.1%.Today’s FOMC Meeting Minutes could impact gold price in the short term. Gold Price Technical Analys...
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GBP/USD Sighting Upside Break Above 1.2400

Key Highlights The British Pound rebounded after it found support near 1.2200 against the US Dollar. A key bearish trend line is forming with resistance near 1.2375 on the 4-hours chart of GBP/USD.The UK Halifax House Price Index declined 0.4% in Sep 2019 (MoM), whereas the forecast was +0.1%.The US Producer Price Index could increase 0.1% in Sep 2019 (MoM). GBP/USD Tech...
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EUR/USD Could Struggle To Rebound Above 1.1020

Key Highlights The Euro started an upside correction from the 1.0879 low against the US Dollar. EUR/USD managed to surpass a bearish trend line at 1.0965 on the 4-hours chart.The US nonfarm payrolls increased 136K in Sep 2019, less than the market forecast of 145K.The US unemployment rate declined to 3.5%, lowest since December 1969. EUR/USD Technical Analysis The Eur...
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USD/JPY Could Extend Losses, US NFP Next

Key Highlights The US Dollar started a fresh decline from the 108.50 resistance against the Japanese Yen. USD/JPY traded below a bullish trend line with support near 107.45 on the 4-hours chart.The US ISM Non-Manufacturing Index declined sharply from 56.4 to 52.6 in Sep 2019.The US nonfarm payrolls could increase 145K in Sep 2019, better than the last 130K. USD/JPY Techn...
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