EUR/USD Remains At Risk Of More Downsides

Key Highlights The Euro failed to break the key 1.1280 resistance and declined against the US Dollar. A major bearish trend line is forming with resistance near 1.1280 on the 4-hours of EUR/USD.The Michigan Consumer Sentiment Index in July 2019 (Prelim) increased from 98.2 to 98.4.The Chicago Fed National Activity Index in June 2019 might increase from -0.05 to 0.10. EUR...
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USD/JPY Could Retest 107.00 Before Fresh Increase

Key Highlights The US Dollar struggled near 109.00 and declined below 108.00 against the Japanese Yen. USD/JPY traded below a major bullish trend line with support at 108.05 on the 4-hours.The US Initial Jobless Claims for the week ending July 13, 2019 increased from 208K to 216K.The Michigan Consumer Sentiment Index in July 2019 (Prelim) might increase from 98.2 to 98.5. ...
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Crude Oil Price Correcting Gains But Remains Supported

Key Highlights Crude oil price struggled two times to clear the $60.85 resistance against the US dollar.There was a break below a major bullish trend line at $58.70 on the 4-hours chart of XTI/USD.Canada’s CPI declined 0.2% in June 2019 (MoM), similar to the forecast.The US Initial Jobless Claims for the week ending July 13, 2019 might increase from 209K to 216K. Crude...
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GBP/JPY Nosedives, Decline Could Extend To 132.00

Key Highlights The British Pound declined sharply after it broke the 135.20 support against the Japanese Yen. A crucial resistance is forming near 135.00 and a bearish trend line on the 4-hours of GBP/JPY.The UK Claimant Count changed 38.0K in June 2019, whereas the market was looking for 22.8K.The UK Consumer Price Index in June 2019 could rise 2% (YoY), similar to the las...
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GBP/USD Recovery Approaching Key Juncture

Key Highlights The British Pound recovered recently after trading as low as 1.2439 against the US Dollar. GBP/USD is now struggling below the 1.2580 resistance and a bearish trend line on the 4-hours.The NY Empire State Manufacturing Index increased from -8.6 to 4.3 in July 2019.The UK Claimant count in June 2019 could change by 18.9K, less than the last 23.2K. GBPUSD Te...
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EUR/USD Likely To Face Hurdles Near 1.1300

Key Highlights The Euro started a decent rebound from 1.1200 against the US Dollar. EUR/USD is facing a significant resistance near 1.1300 and a bearish trend line on the 4-hours.The Euro Area Industrial Production in May 2019 increased 0.9% (MoM), better than the +0.2% market forecast.The NY Empire State Manufacturing Index in July 2019 might rise from -8.6 to 0.5. EURU...
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USD/JPY Showing Signs of Weakness Below 108.50

Key Highlights The US Dollar topped near 109.00 and recently declined against the Japanese Yen. USD/JPY traded below a major bullish trend line with support near 108.25 on the 4-hours chart.The US CPI in June 2019 increased 0.1% (MoM), whereas the market was expecting no change.The US Producer Price Index is likely to remain flat in June 2019 (MoM). USDJPY Technical Anal...
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USD/CHF Correcting Lower Before Fresh Increase

Key Highlights The US Dollar struggled to break the 0.9950 resistance against the Swiss Franc. There are many important supports for USD/CHF near 0.9860 and 0.9840.The US Wholesale Inventories increased 0.4% in May 2019, similar to the forecast.The US CPI in June 2019 might rise 0.2% (MoM), more than the last +0.1%. USDCHF Technical Analysis After a successful close a...
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USD/CAD Eyes Larger Recovery Above 1.3160, BoC Next

Key Highlights The US Dollar declined to 1.3037 and recently corrected higher against the Canadian Dollar. USD/CAD traded above a bearish trend line with resistance near 1.3080 on the 4-hours chart.The NFIB Business Optimism Index declined from 105.0 to 103.3 in June 2019.The Bank of Canada is likely to keep interest rates at 1.75% in today’s rate decision. USDCAD Tech...
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GBP/USD Could Accelerate Losses Below 1.2450

Key Highlights The British Pound declined sharply after it broke the 1.2600 support against the US Dollar. GBP/USD formed a couple of bearish continuation patterns on the 4-hours chart.There could be sharp losses if the pair fails to stay above 1.2480 or 1.2450.The Swiss Unemployment Rate in June 2019 (MoM) is likely to remain at 2.4%. GBPUSD Technical Analysis After ...
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