GBP/USD Approaching Crucial Support Near 1.2800

Key Highlights The British Pound traded as high as 1.3000 and later corrected lower against the US Dollar. There are two bullish trend lines formed with support near 1.2780-1.2800 on the 4-hours chart of GBP/USD. China’s GDP in Q4 2018 increased 6.4% (YoY), less than the last 6.5%. The UK Claimant Count for Jan 2019 will be released today, which could change 20....
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EUR/USD Trimmed Gains, Could Revisit 1.1300

Key Highlights The Euro failed to hold the 1.1440 support and declined heavily against the US Dollar. There is a major bearish trend line formed with resistance at 1.1390 on the 4-hours chart of EUR/USD. The US Industrial Production in Dec 2018 increased 0.3% (MoM), more than the +0.2% forecast. The German Producer Price Index for Dec 2018 will be released today, ...
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USD/JPY Could Gain Bullish Momentum Above 109.50

Key Highlights The US Dollar traded higher and broke the 108.00 resistance against the Japanese Yen. There was a break above a major bearish trend line with resistance at 108.40 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Jan 12, 2019 declined from 216K to 213K. The US Industrial Production for Dec 2018 will be released today...
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Crude Oil Price Remains Supported Near $50

Key Highlights Crude oil price traded higher recently and tested the $53.20 resistance against the US dollar. There is a key bullish trend line formed with support at $50.45 on the 4-hours chart of XTI/USD. The US Import Price Index in Dec 2018 declined 1% (MoM), which was better than the -1.3% forecast. Today, the US Initial Jobless Claims for the week ending Jan...
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Gold Price Could Extend Rally Above $1,300

Key Highlights Gold price gained traction in the past few days and broke the $1,285 resistance against the US Dollar. There is a crucial bullish trend line formed with support at $1,288 on the 4-hours chart of XAU/USD. The US PPI in Dec 2018 declined 0.2% (MoM), more than the -0.1% forecast. The UK CPI report for Dec 2018 will be released today, which could rise 2...
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GBP/USD Could Test 1.3000 In Near Term

Key Highlights The British Pound gained momentum recently and broke the 1.2900 resistance against the US Dollar. There are two bullish trend lines formed with support at 1.2780 on the 4-hours chart of GBP/USD. China’s Trade Balance in Dec 2018 posted a surplus of $57.06B, more than the $51.53B forecast. The US Producer Price Index for Dec 2018 will be released t...
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EUR/USD Remains Supported Above 1.1420

Key Highlights The Euro traded towards 1.1570 and later corrected lower against the US Dollar. There was a break below a major bullish trend line with support at 1.1510 on the 4-hours chart of EUR/USD. The US CPI in Dec 2018 declined 0.1% (MoM), similar to the market forecast. The Euro Area Industrial Production for Nov 2018 will be released today, which could dec...
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USD/JPY Facing Significant Hurdles Near 108.80

Key Highlights The US Dollar recovered recently and moved above 107.20 against the Japanese Yen. There is a crucial bearish trend line formed with resistance at 108.45 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Jan 05, 2018 declined from 233K (revised) to 216K. The US Consumer Price Index for Dec 2018 will be released today,...
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AUD/USD Recovery Reaching Crucial Juncture

Key Highlights The Australian Dollar recovered nicely and moved above 0.7080 against the US Dollar. There was a break above a major bearish trend line at 0.7010 on the 4-hours chart of AUD/USD. Australia’s Building Permits in Nov 2018 declined 9.1% (MoM). The US Initial Jobless Claims for the week ending Jan 05, 2019 will be released today, which is forecasted t...
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Gold Price Could Extend Correction, FOMC Next

Key Highlights Gold price formed a short term top near $1,298 and later declined against the US Dollar. There was a break below a major bullish trend line with support at $1,288 on the 4-hours chart of XAU/USD. The Euro Area Business Climate Index in Dec 2018 declined from the last revised reading of 1.04 to 0.82. Today’s high risk event is the Federal Open Mark...
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