Gold Price Slides Below Key Support, US CPI Next

Key Highlights Gold price failed to surpass the $1,240 resistance and declined against the US Dollar. There was a break below a major bullish trend line with support at $1,224 on the 4-hours chart of XAU/USD. The UK ILO Unemployment Rate increased from the last reading of 4.0% to 4.1%. Today, the US Consumer Price Index for Oct 2018 will be released, which is fore...
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GBP/USD Settles Below 1.3000 Ahead of Jobs Report

Key Highlights The British Pound declined recently below the 1.3000 and 1.2940 supports against the US Dollar. There is a crucial bearish trend line in place with resistance at 1.3160 on the 4-hours chart of GBP/USD. The Italian Industrial Output in Sep 2018 declined 0.2%, less than the -0.7% forecast. Today, the UK Claimant Count figure for Oct 2018 will be relea...
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EUR/USD Remains At Risk of More Losses

Key Highlights The Euro recovered recently, but it failed to move above 1.1500 against the US Dollar. There was a break below a key bullish trend line with support at 1.1425 on the 4-hours chart of EUR/USD. The US Producer Price Index increased 0.6% in Oct 2018 (MoM), more than the +0.2% forecast. Today, the France ILO Unemployment Rate for Q3 2018 will be release...
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USD/JPY Could Continue Higher Towards 114.50

Key Highlights The US Dollar remains in a solid uptrend above the 112.00 support against the Japanese Yen. There is a major bullish trend line in place with support at 112.20 on the daily chart of USD/JPY. The US Initial Jobless Claims for the week ending Nov 03, 2018 declined from the last revised reading of 215K to 214K. Today, the US Producer Price Index for Oc...
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USD/CHF Breaks Key Support Ahead of Fed’s Rate Decision

Key Highlights The US Dollar started a downside move from the 1.0090 resistance against the Swiss Franc. There was a break below two important bullish trend lines at 1.0030 on the 4-hours chart of USD/CHF. The Euro Area Retail Sales in Sep 2018 increased 0.8% (YoY), more than the 0.7% forecast. Today, the Fed Interest Rate Decision is scheduled, which is forecaste...
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GBP/JPY Could Continue Higher Towards 149.50

Key Highlights The British Pound recovered recently and moved above the 146.50 resistance against the Japanese Yen. There was a break above two bearish trend lines with resistance at 145.60 and 146.90 on the 4-hours chart of GBP/JPY. The UK BRC Like-For-Like Retail Sales in Oct 2018 increased 1.3% (YoY). Today, the UK Halifax House Price Index for Oct 2018 will be...
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GBP/USD Hesitates, But Further Gains Seem Likely

Key Highlights The British Pound recovered nicely and settled above the 1.2900 resistance against the US Dollar. There was a break above a significant bearish trend line with resistance at 1.2800 on the 4-hours chart of GBP/USD. The UK Services PMI in Oct 2018 declined from the last reading of 53.9 to 52.2. Today, the Euro Zone Services PMI for Oct 2018 will be re...
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EUR/USD Facing Uphill Task Near 1.1450

Key Highlights The Euro recovered recently, but it faced a strong resistance near 1.1450 against the US Dollar. There is a crucial bearish trend line in place with resistance at 1.1450 on the 4-hours chart of EUR/USD. The US nonfarm payrolls figure in Oct 2018 increased 250K, more than the 190K forecast. Today, the US ISM Non-Manufacturing Index for Oct 2018 will ...
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USD/JPY Remains Supported Ahead of US NFP

Key Highlights The US Dollar traded higher towards the 113.40 level recently against the Japanese Yen. There was a break above a declining channel with resistance at 112.40 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Oct 27, 2018 declined from 216K to 214K. Today, the US nonfarm payrolls figure for Oct 2018 will be released, ...
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Crude Oil Price Recoveries Remain Capped

Key Highlights Crude oil price started a major downside move from the $77.00 resistance against the US dollar. There are two bearish trend lines in place with resistance at $68.50 on the 4-hours chart of XTI/USD. The Euro Zone CPI in Oct 2018 (Preliminary) increased 2.2% (YoY), similar to the forecast. Today, the US ISM Manufacturing PMI for Oct 2018 will be relea...
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