GBP/USD’s Recovery Could Fail Near 1.2700

Key Highlights The British Pound found support near 1.2475 and recently recovered against the US Dollar. There are two important bearish trend lines in place with resistance near 1.2700 on the 4-hours chart of GBP/USD. The Euro Zone Core CPI declined 0.3% in Nov 2018 (MoM), more than the forecast of -0.2%. Today, the US Housing Starts for Nov 2018 will be released...
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EUR/USD Broke Key Support, More Losses Likely

Key Highlights The Euro failed to surpass the 1.1440 resistance and declined recently against the US Dollar. There was a break below a key bullish trend line with support at 1.1330 on the 4-hours chart of EUR/USD. The US Retail Sales in Nov 2018 increased 0.2% (MoM), similar to the forecast. Today, the Euro Zone CPI for Nov 2018 will be released, which is forecast...
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USD/JPY Approaching Significant Resistance Near 114.00

Key Highlights The US Dollar climbed higher recently and traded above the 113.00 resistance against the Japanese Yen. There was a break above a major bearish trend line with resistance at 113.24 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Dec 08, 2018 declined from 233K (revised) to 206K. Today, the US Retail Sales figure for...
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EUR/GBP Remains In Uptrend Above 0.8940

Key Highlights The Euro rallied recently and traded above the 0.8900 and 0.9000 resistances against the British Pound. There is a crucial bullish trend line formed with support at 0.8960 on the 4-hours chart of EUR/GBP. The US CPI in Nov 2018 increased 2.2% (YoY), similar to the forecast, but less than the last 2.5%. Today, the ECB Interest Rate Decision is lined ...
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GBP/JPY Could Struggle To Surpass 143.50

Key Highlights The British Pound fell significantly and tested the 141.00 support area against the Japanese Yen. There are two key bearish trend lines formed with resistance near 143.40-50 on the 4-hours chart of GBP/JPY. The UK Claimant Count in Nov 2018 changed 21.9K, more than the 13.2K forecast. Today, the US Consumer Price Index for Nov 2018 will be released,...
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GBP/USD In Significant Downtrend Below 1.2800

Key Highlights The British Pound declined heavily and broke the 1.2660 support against the US Dollar. There are two important bearish trend lines formed with resistance near 1.2775 on the 4-hours chart of GBP/USD. The UK Industrial Production in Nov 2018 declined 0.6% (MoM), whereas the market was looking for a 0.1% rise. Today, the UK Claimant Count figure for No...
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EUR/USD Likely Approaching Bullish Break

Key Highlights The Euro recovered recently and traded above the 1.1350 resistance against the US Dollar. There is a major bullish trend line formed with support at 1.1350 on the 4-hours chart of EUR/USD. The Chinese CPI in Nov 2018 increased 2.2% (YoY), less than the forecast of 2.4%. Today, the German Trade Balance for Oct 2018 will be released, which is forecast...
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USD/JPY Facing Uphill Task Ahead of US NFP

Key Highlights The US Dollar declined recently and broke the 113.20 support against the Japanese Yen. There is a key bearish trend line formed with resistance near 113.30 on the 4-hours chart of USD/JPY. The US ADP Employment Change in Nov 2018 declined from 225K (revised) to 179K. Today, the US nonfarm payrolls figure for Nov 2018 will be released, which is forec...
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Crude Oil Price Rebounds After Forming Support Near $50

Key Highlights Crude oil price formed a decent support near $49.50 and $50.00 against the US dollar. There was a break above a major bearish trend line with resistance at $51.50 on the 4-hours chart of XTI/USD. The Euro Zone Services PMI in Nov 2018 increased from 53.1 to 53.4. Today, the US Services PMI for Nov 2018 will be released, which is forecasted to remain...
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USD/CHF Remains At Risk of Further Declines

Key Highlights The US Dollar failed to break the 1.0000 resistance and declined against the Swiss Franc. There is a major bearish trend line formed with resistance near 0.9980 on the 4-hours chart of USD/CHF. The Swiss Consumer Price Index in Nov 2018 declined 0.3% (MoM), more than the -0.1% forecast. Today, the Euro Zone Services PMI for Nov 2018 will be released...
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