GBP/USD – Cable Breaks Significant Resistance at 1.3280

Key Highlights The British Pound traded higher recently and broke the 1.3280 resistance against the US Dollar. There was a break above two crucial bearish trend lines with resistance near 1.3280 on the 4-hours chart of GBP/USD. The US Durable Goods Orders in Oct 2017 declined 1.2% whereas the market was looking for a 0.3% rise. The UK GDP figure for Q3 2017 will b...
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NZD/USD – New Zealand Dollar Remains in Downtrend Vs US Dollar

Key Highlights The New Zealand Dollar recently fell below the 0.6900-0.6880 support area against the US Dollar. There is a crucial bearish trend line forming with resistance at 0.6850 on the 4-hours chart of NZD/USD. New Zealand’s Visitor Arrivals in Oct 2017 increased by 3.9% (YoY), more than the last +3.1%. The US Existing Home Sales in Oct 2017 increased 2% (...
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Crude Oil Price Remains in Uptrend above $55.00

Key Highlights Crude oil price recently traded as high as $57.84 against the US dollar before starting a downside correction. There are two bullish trend lines forming with supports at $55.50 and $55.00 on the 4-hours chart of XTI/USD. The 100 simple moving average (red, 4-hour) is also positioned at $55.50 to provide support. Today, the US Existing Home Sales Cha...
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EUR/USD – Resistance Turned Support for Euro To Dollar

Key Highlights The Euro gained bullish momentum this past week and traded above 1.1700 against the US Dollar. There was a break above a major contracting triangle with resistance at 1.1765 on the 4-hours chart of EUR/USD. The US Building Permits in Oct 2017 increased 5.9%, much better than the forecast of +2%. Today in the Euro Zone, the German PPI numbers for Oct...
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USD/JPY – US Dollar Pressured Vs Japanese Yen Below 113.50

Key Highlights The US Dollar started a new downside wave from the 114.70 swing high against the Japanese Yen. There is a key contracting triangle forming with resistance at 113.50 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Nov 11, 2017 posted a rise from 239K to 249K. Today in the US, the Building Permits figure for Oct 2017...
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Gold Price Signaling Bullish Continuation above $1280 Vs US Dollar

Key Highlights Gold price started an upside correction from the $1265 swing low against the US Dollar. There is a crucial ascending channel forming with support near $1274 on the 4-hours chart of XAU/USD. The US Consumer Price Index in Oct 2017 increased 2% (YoY), similar to the market forecast. Today, the US Industrial Production for Oct 2017 will be released, wh...
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GBP/USD – Can Cable Continue To Hold 1.3040-1.3000?

Key Highlights The British Pound is holding an important support area near 1.3040 against the US Dollar. There is a major bearish trend line with resistance at 1.3160 on the 4-hours chart of GBP/USD. The UK CPI in Oct 2017 increased 3%, less than the forecast of +3.1% (YoY). Today in the UK, the Claimant Count Change for Oct 2017 will be released which is forecast...
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EUR/GBP – Can Euro Retain Gains Vs British Pound?

Key Highlights The Euro made a nice upside move from the 0.8810-0.8800 area against the British Pound. There was a break above a major bearish trend line with resistance at 0.8855 on the 4-hours chart of EUR/GBP. The Germany’s wholesale price Index in Oct 2017 posted no change, whereas the forecast was +0.4% (MoM). Today in the UK, the CPI for Oct 2017 will be r...
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EUR/USD – Can Euro Hold Gains Vs US Dollar Above 1.1600?

Key Highlights The Euro started a decent recovery and moved above 1.1620 against the US Dollar. There is a major bearish trend line forming with resistance at 1.1760 on the 4-hours chart of EUR/USD. The Michigan Consumer Sentiment Index (Prelim) in Nov 2017 decreased from 100.7 to 97.8. Today in the Euro Zone, Portugal’s CPI for Oct 2017 will be released, which ...
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USD/JPY – US Dollar Turning Bearish Vs Japanese Yen

Key Highlights The US Dollar failed to settle above 114.50-115.00 levels against the Japanese Yen and moved down. It seems like the USD/JPY broke a major triangle support at 113.85 on the 4-hours chart. The US Wholesale Inventories in Sep 2017 increased 0.3%, just as the market expected. Today, the Michigan Consumer Sentiment Index (Prelim) for Nov 2017 will be re...
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