GBP/USD Remains In Major Downtrend Below 1.2900

Key Highlights The British Pound declined recently and broke the 1.2800 support against the US Dollar. There is a crucial bearish trend line in place with resistance near 1.2770 on the 4-hours chart of GBP/USD. The UK Manufacturing PMI in Nov 2018 increased from 51.1 to 53.1. Today, the UK’s Construction PMI for Nov 2018 will be released, which is forecasted to ...
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EUR/USD Continues To Struggle Near 1.1400 Resistance

Key Highlights The Euro failed to break the 1.1400 resistance and declined against the US Dollar. There are two major bearish trend lines in place with resistance at 1.1375 and 1.1410 on the 4-hours chart of EUR/USD. The Euro Zone CPI (Prelim) for Nov 2018 increased 2% (YoY), less than the last 2.2%. Today, the Euro Zone Manufacturing PMI for Nov 2018 will be rele...
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USD/JPY Could Correct Lower In Short Term

Key Highlights The US Dollar failed again to break the 114.00 resistance area against the Japanese Yen. There is a key bearish trend line formed with resistance at 114.00 on the 4-hours chart of USD/JPY. The Tokyo Consumer Price Index increased 0.8% (YoY) in Nov 2018, less than the market forecast of 1.0%. Today in the US, the Chicago Purchasing Manager’s Index ...
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NZD/USD Remains Supported Ahead of FOMC

Key Highlights The New Zealand Dollar traded towards 0.6880 and later corrected lower against the US Dollar. Earlier, there was a break below a key bullish trend line with support at 0.6810 on the 4-hours chart of NZD/USD. The US GDP in Q3 2018 (Prelim) grew 3.5%, similar to the market forecast. Today in the US, the FOMC Meeting Minutes will be released, which cou...
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Gold Price Facing Many Hurdles Near $1,235

Key Highlights Gold price failed to surpass the $1,236 and $1,239 resistances and declined against the US Dollar. There is a key bearish trend line formed with resistance at $1,232 on the 4-hours chart of XAU/USD. The US Housing Price Index in Sep 2018 increased 0.2% (MoM), less than the +0.4% forecast. Today, the US Gross Domestic Product for Q3 2018 (Preliminary...
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GBP/USD Rebound Facing Crucial Resistance

Key Highlights The British Pound found support near 1.2720 and recovered against the US Dollar. There is a crucial bearish trend line formed with resistance at 1.2900 on the 4-hours chart of GBP/USD. The German business sentiment index in Nov 2018 declined from the last revised reading of 102.9 to 102.0. Today, the US House Price Index for Sep 2018 will be release...
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EUR/USD Could Revisit The 1.1250 Support Area

Key Highlights The Euro failed to break the 1.1470 resistance and declined against the US Dollar. There is a major bearish trend line in place with resistance at 1.1450 on the 4-hours chart of EUR/USD. The US Manufacturing PMI for Oct 2018 (Preliminary) declined from 55.7 to 55.4. Today, the German IFO Business Climate Index for Nov 2018 will be released, which is...
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USD/JPY Could Decline Further Towards 112.00

Key Highlights The US Dollar started a downside move after trading towards the 114.20 level against the Japanese Yen. There was a break below a major bullish trend line with support at 113.90 on the 4-hours chart of USD/JPY. The Euro Zone Consumer Confidence in Nov 2018 (Preliminary) declined from -2.7 to -3.9. Today, the US Manufacturing PMI for Nov 2018 (Prelimi...
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AUD/USD Holding Key Support and 100 SMA

Key Highlights The Aussie Dollar declined sharply from 0.7337 and traded below 0.7260 against the US Dollar. There is a major bullish trend line in place with support at 0.7220 on the 4-hours chart of AUD/USD. The US Initial Jobless Claims figure for the week ending Nov 17, 2018 increased to 224K. Today, the Euro Zone Consumer Confidence for Nov 2018 (Prelim) will...
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EUR/JPY Approaching Next Crucial Break

Key Highlights The Euro found support near 127.50 and recovered recently against the Japanese Yen. There is a major breakout pattern formed with resistance at 128.85 on the 4-hours chart of EUR/JPY. The US Housing Starts Change came in at +1.5% in Oct 2018, better than the +0.5% forecast. Today, the US Durable Goods Orders for Oct 2018 will be released, which is f...
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