EUR/GBP Upsides Remain Capped Near 0.8800

Key Highlights The Euro remained confined in a broad range below the 0.8800 resistance against the British Pound. There is a major bearish trend line in place with resistance near 0.8800 on the 4-hours chart of EUR/GBP. On the downside, supports are seen near the 0.8720 and 0.8700 levels. Today in the Euro Zone, the GDP report for Q1 2018 will be released, which i...
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Crude Oil Price Turned Bearish Below $66.00?

Key Highlights Crude oil price started a fresh downside move and declined below the $66.00 support against the US dollar. There is a major bearish trend line in place with resistance at $65.90 on the 4-hours chart of XTI/USD. The US Services Purchasing Managers Index (PMI) in May 2018 increased to 56.8 from 55.7. Today in the US, the Trade Balance figure for April...
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Can GBP/USD Move Past 1.3400?

Key Highlights The British Pound recovered recently and moved above the 1.3300 resistance against the US Dollar. There was a break above a key bearish trend line with resistance at 1.3310 on the 4-hours chart of GBP/USD. The UK Construction PMI in May 2018 remained at 52.5 versus the forecast of 52.0. Today in the US, the US Services PMI for May 2018 will be relea...
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EUR/USD Upsides above 1.1750 Remain Limited

Key Highlights The Euro started an upside correction and recovered above the 1.1620 resistance against the US Dollar. There was a break above a bearish trend line with resistance near 1.1650 on the 4-hours chart of EUR/USD. The US Nonfarm Payrolls in May 2018 rose from the last revised reading of 159K to 223K. Today in the US, the Factory Orders figure for April 2...
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USD/JPY Facing Uphill Task Ahead of US NFP

Key Highlights The US Dollar found support near the 108.10 level and recovered slightly against the Japanese Yen. On the upside, there is a strong resistance near 109.75 and the 100 simple moving average (4-hour). The US Initial Jobless Claims in the week ending May 26, 2018 declined from 234K to 221K. Today in the US, the NFP figure for May 2018 will be released,...
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Can AUD/USD Recover Further Above 0.7570?

Key Highlights The Aussie recovered recently and moved above the 0.7500 resistance against the US Dollar. There is a major bearish trend line in place with resistance at 0.7570 on the 4-hours chart of AUD/USD. The US Gross Domestic Product in Q1 2018 increased 2.2% (Prelim), less than the forecast of +2.3%. Today in the US, the Initial Jobless Claims for the week ...
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Gold Price Facing Crucial Resistance Ahead of US GDP

Key Highlights Gold price formed a solid support around $1,285 and recovered against the US Dollar. There is a major bearish trend line formed with current resistance at $1,306 on the 4-hours chart of XAU/USD. The US S&P/Case-Shiller Home Price Indices rose 6.8% in March 2018 (YoY), more than the forecast of +6.4%. Today, the US GDP for Q1 2018 (Prelim) will b...
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GBP/USD Extending Slide Below 1.3350

Key Highlights The British Pound declined further and broke the 1.3350 support against the US Dollar. There are two bearish trend lines in place with resistance at 1.3330 and 1.3375 on the 4-hours chart of GBP/USD. The pair may perhaps extend the current decline towards the 1.3250 level in the near term. Today in the US, the S&P/Case-Shiller Home Price Indices...
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EUR/USD Remains In Downtrend Below 1.1750

Key Highlights The Euro failed to recover this past week and declined below 1.1700 against the US Dollar. There is a major bearish trend line in place with current resistance at 1.1710 on the 4-hours chart of EUR/USD. The pair remains at a risk of more losses if it fails to recover above 1.1700 and 1.1710. The US Durable Goods Orders in April 2018 declined 1.7%, m...
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USD/JPY Broke Key Uptrend Support at 110.00

Key Highlights The US Dollar started a downside correction from 111.37 and declined below 110.00 against the Japanese Yen. There was a break below a key bullish trend line with support at 110.05 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending May 19, 2018 rose from the last revised reading of 223K to 234K. Today in the US, the Du...
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