AUD/USD Rebound Reaching Crucial Juncture

Key Highlights The Aussie Dollar tested the 0.7000 support and rebounded nicely against the US Dollar. AUD/USD traded above a major bearish trend line at 0.7046 on the 4-hour chart. The US CPI in Feb 2019 increased 1.5% (YoY), less than the 1.6% forecast. The US Durable Goods Orders for Jan 2019 will be released today, which could decline 0.5% (MoM). AUDUSD Tec...
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GBP/USD Upside Break Above 1.3100 Looks Real

Key Highlights The British Pound rallied recently after trading as low as 1.2960 against the US Dollar. A crucial bearish trend line was breached with resistance at 1.3120 on the 4-hours chart of GBP/USD. The US Retail Sales in Jan 2019 increased 0.2% (MoM), compared with the last decline of 1.6%. The US Consumer Price Index for Feb 2019 will be released today, wh...
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EUR/USD Could Struggle To Recover Above 1.1300

Key Highlights The Euro declined heavily and broke the 1.1250 support against the US Dollar. There was a break below a couple of important bullish trend lines on the 4-hours chart of EUR/USD. The US nonfarm payrolls in Feb 2019 came in at 20K, less than the 180K forecast. The US Retail Sales for Jan 2019 will be released today, which could increase 0.1% (MoM). ...
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Downsides In USD/JPY Remains Supported

Key Highlights The US Dollar climbed higher recently above the 112.00 level against the Japanese Yen. There is a strong support formed near the 111.20 level on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Feb 26, 2019 declined from 226K to 223K. The US nonfarm payrolls for Feb 2019 will be released today, which could post 180K, d...
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USD/CHF Could Revisit February 2019 Highs

Key Highlights The US Dollar gained traction above the 1.0000 resistance against the Swiss Franc. USD/CHF broke a crucial bearish trend line at 0.9995 on the 4-hours chart. The US ADP Employment declined from the last revised reading of 300K to 183K in Feb 2019. The US Initial Jobless Claims for the week ending Feb 26, 2019 will be released today, which could rema...
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EUR/JPY Testing Crucial Support Near 126.30

Key Highlights The Euro climbed towards 127.50 before starting a downside correction against the Japanese Yen. A key bullish trend line is in place with support at 126.30 on the 4-hours chart of EUR/JPY. The Euro Area Retail Sales increased 1.3% (MoM) in Jan 2019, better than the +1.2% forecast. The US ADP Employment figure for Feb 2019 will be released today, whi...
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GBP/USD Rally Unwinds But Not Likely Over

Key Highlights The British Pound surged above 1.3250 before sellers appeared near 1.3350 against the US Dollar. A major declining channel is in place with resistance near 1.3240 on the 4-hours chart of GBP/USD. The UK Construction PMI declined from 50.6 to 49.5 in Feb 2019. The UK Services PMI for Feb 2019 will be released today, which could decline from 50.1 to 4...
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EUR/USD Could Rally If It Breaks 1.1420

Key Highlights The Euro recovered recently and traded above the 1.1325 resistance against the US Dollar. A crucial bearish trend line is formed with resistance near 1.1408 on the 4-hours chart of EUR/USD. The US ISM Manufacturing Index declined from 56.6 to 54.2 in Feb 2019. The Euro Zone PPI for Feb 2019 will be released today, which could increase 0.4% (MoM). ...
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USD/JPY In Significant Uptrend Above 111.00

Key Highlights The US Dollar climbed higher and broke the 111.00 resistance against the Japanese Yen. There is a crucial bullish trend line in place with support at 110.60 on the 4-hours chart of USD/JPY. The US GDP in Q4 2019 grew 2.6% (Prelim), better than the forecast 2.3% forecast. The US ISM Manufacturing Index for Feb 2019 will be released today, which could...
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USD/CAD In Strong Downtrend Below 1.3200

Key Highlights The US Dollar declined heavily and settled below 1.3200 against the Canadian Dollar. There is a crucial declining channel in place with resistance at 1.3200 on the 4-hours chart of USD/CAD. Canada’s CPI increased 0.1% (MoM) in Jan 2019, less than the 0.2% forecast. The US Gross Domestic Product for Q4 2018 (Preliminary) will be released today, whi...
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