GBP/USD Holding Gains Above Crucial Support

Key Highlights The British Pound declined recently and tested the 1.3080-1.3100 support against the US Dollar. GBP/USD tested a connecting bullish trend line with support at 1.3100 on the 4-hours chart. The US Retail Sales in Sep 2018 increased 0.1%, less than the +0.5% forecast. Today, the US Industrial Production for Sep 2018 will be released, which is forecaste...
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EUR/USD is Facing Uphill Task Near 1.1620

Key Highlights The Euro started an upside correction after trading as low as 1.1432 against the US Dollar. There was a break above a major bearish trend line with resistance at 1.1500 on the 4-hours chart of EUR/USD. The Euro area Industrial Production in August 2018 increased 0.9%, better than the -0.2% forecast. Today, the US Retail Sales for Sep 2018 will be re...
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USD/JPY Extending Correction Below 112.80

Key Highlights The US Dollar started a major downside correction from the 114.50 resistance against the Japanese Yen. There was a break below a major bullish trend line with support at 113.55 on the 4-hours chart of USD/JPY. Recently in the US, the CPI posted an increase of 0.1% in Sep 2018 (MoM), less than the 0.2% forecast. Today, the US Import Price Index for S...
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EUR/JPY Could Extend Slides Below 129.50

Key Highlights The Euro declined recently and broke the 130.80 support against the Japanese Yen. There is a major bearish trend line in place with resistance at 130.60 on the 4-hours chart of EUR/JPY. Recently in Japan, the Machinery New Orders posted a growth of 6.8% in August 2018 (MoM). Today, the US Consumer Price Index for Sep 2018 will be released, which is ...
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Crude Oil Price Holding Key Uptrend Support

Key Highlights Crude oil price corrected lower and tested the $73.00 support area against the US dollar. There are two bullish trend lines in place with support at $73.30 and $72.40 on the 4-hours chart of XTI/USD. The NFIB Business Optimism Index in Sep 2018 declined from 108.8 to 107.9. The US Producer Price Index for Sep 2018 will be released today, which is fo...
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GBP/USD Facing Key Resistance Near 1.3100

Key Highlights The British Pound corrected higher, but it failed to hold gains above 1.3100 against the US Dollar. There was a failed attempt to break a bearish trend line with current resistance at 1.3095 on the 4-hours chart of GBP/USD. The Euro Zone Sentix Investor Confidence in Oct 2018 declined from 12.0 to 11.4. Today, the NFIB Business Optimism Index for Se...
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EUR/USD is At Risk of More Losses

Key Highlights The Euro started a downside move and traded below the 1.1550 support against the US Dollar. There is a key bearish trend line in place with resistance at 1.1530 on the 4-hours chart of EUR/USD. The US NFP figure in Sep 2018 came in at 134K, less than the forecast of 185K. Today, the Euro Zone Sentix Investor Confidence for Oct 2018 will be released,...
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USD/JPY Remains in Solid Uptrend Ahead of NFP

Key Highlights The US Dollar remained in a consistent uptrend from the 111.80 support against the Japanese Yen. There is a major bullish trend line formed with support at 113.60 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Sep 29, 2018 declined from 215K to 207K. Today, the US NFP figure for Sep 2018 will be released, which is...
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EUR/JPY Remains Under Pressure Below 132.00

Key Highlights The Euro started a downside move after forming a short-term top at 133.10 against the Japanese Yen. There was a break below a key bullish trend line with support at 132.40 on the 4-hours chart of EUR/JPY. The US ADP Employment in Sep 2018 increased 230K, more than the 185K forecast. Today, the US Factory Orders report for August 2018 will be release...
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Gold Price Approaching Key Resistance Near $1,210

Key Highlights Gold price recovered sharply and moved back above the $1,200 support against the US Dollar. There was a break above a bearish trend line with resistance at $1,197 on the 4-hours chart of XAU/USD. The UK Construction PMI in Sep 2018 declined from 52.9 to 52.1. The US ADP Employment figure for Sep 2018 will be released today, which is likely to increa...
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