NZD/USD Could Accelerate Decline Below 0.6540

Key Highlights The New Zealand Dollar is in a strong downtrend below 0.6600 against the US Dollar.A major bearish trend line is forming with resistance at 0.6580 on the 4-hours chart of NZD/USD.The US Retail Sales in April 2019 declined 0.2% (MoM), whereas the forecast was +0.2%.The US Initial Jobless Claims for the week ending May 11, 2019 may slide from 228K to 220K. N...
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Gold Price Turns Positive Above $1,290, Could Test $1,310

Key Highlights Gold price started a fresh increase above $1,285 and $1,290 resistances against the US Dollar.A key bullish trend line is forming with support at $1,290 on the 4-hours chart of XAU/USD.The US Import Price Index advanced 0.2% in April 2019 (MoM), less than the +0.7% forecast.The US Retail Sales in April 2019 could increase 0.2% (MoM), less than the last +1.6%....
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GBP/USD Trading Near Make-or-Break Support

Key Highlights The British Pound declined recently below the 1.3050 support against the US Dollar.A key bullish trend line is forming with support at 1.2948 on the 4-hours chart of GBP/USD.There are many resistances on the upside near 1.2975, 1.3020, 1.3050 and 1.3060.The UK Claimant Count in April 2019 could change 24.2K, less than the last 28.3K. GBPUSD Technical Analy...
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EUR/USD Sighting Larger Recovery Above 1.1280

Key Highlights The Euro found support near 1.1175 and corrected higher against the US Dollar.A major bullish trend line is forming with support at 1.1195 on the 4-hours chart of EUR/USD.The US CPI in April 2019 increased 2.0% (YoY), less than the +2.1% forecast.Canada’s unemployment rate declined from 5.8% to 5.7% in April 2019. EURUSD Technical Analysis After tradi...
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USD/JPY Daily Chart Suggests Crucial Downside Break

Key Highlights The US Dollar declined sharply after it was rejected above 112.00 against the Japanese Yen.USD/JPY traded below a crucial bullish trend line with support at 111.05 on the daily chart.The US PPI in April 2019 increased 2.2% (YoY), less than the +2.3% forecast.The US CPI in April 2019 could rise 2.1% (YoY), up from than the last +1.9%. USDJPY Technical Analy...
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AUD/USD Positioned In Downtrend Below 0.7050

Key Highlights The Aussie Dollar declined recently below the 0.7070 and 0.7040 supports against the US Dollar.A key bearish trend line is formed with resistance near 0.7030 on the 4-hours chart of AUD/USD.China’s Trade Balance posted a surplus of $13.84B, well below the $35.00B forecast.The US PPI in April 2019 could rise 0.2% (MoM), less than the last +0.6%. AUDUSD Te...
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Crude Oil Price Remains At Risk of More Losses

Key Highlights Crude oil price started a downward move after it broke the $63.40 support against the US dollar.There is a key bearish trend line formed with resistance at $61.85 on the 4-hours chart of XTI/USD.The IBD/TIPP Economic Optimism Index increased from 54.2 to 58.6 in May 2019.The EIA Crude Oil Stockpiles figure is likely to change by 0.744M, compared with the last...
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GBP/USD Could Rebound Further Above 1.3200

Key Highlights The British Pound rebounded nicely and traded above 1.3150 against the US Dollar.A major bullish trend line is forming with support near 1.3035 on the 4-hours chart of GBP/USD.The Euro Area Retail Sales in March 2019 increased 1.9% (YoY), better than the 1.8% forecast.UK’s BRC Like-for-Like Retail Sales in April 2019 could increase 2.4% (YoY). GBPUSD Tec...
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EUR/USD Remains Vulnerable Below 1.1250

Key Highlights The Euro declined heavily, tested 1.1140, and recently bounced back against the US Dollar.A key bullish trend line is forming with support near 1.1170 on the 4-hours chart of EUR/USD.The US Nonfarm Payrolls increased 263K in April 2019, better than the 185K forecast.The Euro Zone Services PMI in April 2019 is likely to remain stable at 52.5. EURUSD Technic...
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USD/JPY Range Bound Below Key 112.00 Resistance

Key Highlights The US Dollar failed to hold gains above 112.20 and declined recently against the Japanese Yen.A crucial bearish trend line in place with resistance near 111.85 on the 4-hours chart of USD/JPY.The US Initial Jobless Claims in the week ending April 27, 2019 were unchanged from 230K.The US nonfarm payrolls in April 2019 could decline from 196K to 185K. USDJP...
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