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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GBP/JPY Signaling Bullish Continuation Above 146.00

Key Highlights The British Pound traded higher recently and broke the 145.00 resistance against the Japanese Yen.GBP/JPY broke a connecting bearish trend line with resistance at 144.90 on the 4-hours chart.The US ADP Employment in April 2019 changed 275K, better than the 180K forecast.Today, the BoE Interest Rate Decision is scheduled in the UK (forecast – no change from ...
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Gold Price Approaching Resistance, Fed Decision Next

Key Highlights Gold price started an upside correction from $1,266 against the US Dollar.There is a major bearish trend line forming with resistance near $1,292 on the 4-hours chart of XAU/USD.The US Pending Home Sales increased 3.8% in March 2019, more than the 1.1% forecast.The Fed Interest Rate Decision is scheduled today (forecast 2.5%, versus 2.5% previous). Gold Pr...
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EUR/USD Rebound Could Be Capped, US GDP Impresses

Key Highlights The Euro declined to a new monthly low at 1.1110 and later recovered against the US Dollar.A crucial bearish trend line is in place with resistance at 1.1190 on the 4-hours chart of EUR/USD.The US GDP in Q1 2019 (Prelim) increased 3.2%, more than the 2.0% forecast.The Euro Zone Business Climate Index in April 2019 could decline from 0.53 to 0.50. EURUSD Te...
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USD/JPY Near Crucial Juncture Ahead of US GDP Release

Key Highlights The US Dollar spiked higher, but failed to stay above 112.00 against the Japanese Yen.An ascending channel is in place with support near 111.30 on the 4-hours chart of USD/JPY.The US Durable Goods Orders in March 2019 gained 2.7% (MoM), more than the 0.8% forecast.The US Gross Domestic Product in Q1 2019 (Prelim) could increase 2.1%, less than the last 2.2%. ...
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